Medbikri raises $650,000 in pre-seed funding
Medbikri, an app-first inventory management solution, announced that it has raised $ 650,000 in the pre-seed funding round. The pre-seed round was led by 3one4 Capital, other investors include Siddharth Ahluwalia (Founder, 100X Entrepreneur), Tej Kapoor (Managing Partner, IvyCap), Sanjeev Barnwal and Vidit Atrey (Founders, Meesho), Saurabh Agarwal and Manish Jethani (Co-Founders, Hevo Technologies), Rahul Sharma (Co-Founder, Zetwerk), XX (designation, StayVista), and Viren Prasad Shetty (Executive Vice Chairman, Narayana Health), among others.
The Medbikri app, available to pharmacies across the country for free, allows them to update their inventory easily and simply by uploading photos of the purchase bills, record sales, and send e-invoices and prescription refill reminders to customers. According to a press statement, the company will utilise the funding to build the team, develop the product further and scale the app across India. Medbikri aims to onboard 50,000 chemists/pharmacists, across UP, MP, Bihar, Jharkhand, Delhi and Karnataka, in the first six months.
“Historically in India, a pharmacy has been the first major touchpoint in a patient’s healthcare journey. Local pharmacists typically know the patients and their medical history, are trusted by them and are available within 5-10 minutes from their homes,” Chushul Suri, Founder and CEO, Medbikri, said in a statement. The company aims to convert the pharmacies in to e-clinics, it will enable them to offer customers doctor consultations, diagnostic tests and other basic procedures.
“This benefits patients as they will no longer need to travel long distances and endure protracted wait times at faraway hospitals and clinics to get treated. We also plan to solve pharmacies’ working capital, GST and medicine procurement issues, in addition to giving them access to a new D2C brand supply,” Suri added.
Medbikri is reportedly the first Indian app-led pharma inventory management solution, where pharmacists can update their inventory through photos of bills, reducing the process time from one hour to under 15 minutes, with the help of built-in tools such as billing, GST support, inventory management and pharma-specific CRM.
Medbikri is already running e-clinics at select pharmacies across India. The company plans to open 10,000+ e-clinics across the country, including at select pharmacies in Lucknow this year. According to the company, the app has already helped to sell 25L+ medicines, including over 30,000 unique medicines, and in issuing over 1.5Lakh prescriptions, including more than 40,000 chronic patient prescriptions.
The Medbikri app, available to pharmacies across the country for free, allows them to update their inventory easily and simply by uploading photos of the purchase bills, record sales, and send e-invoices and prescription refill reminders to customers. According to a press statement, the company will utilise the funding to build the team, develop the product further and scale the app across India. Medbikri aims to onboard 50,000 chemists/pharmacists, across UP, MP, Bihar, Jharkhand, Delhi and Karnataka, in the first six months.
“Historically in India, a pharmacy has been the first major touchpoint in a patient’s healthcare journey. Local pharmacists typically know the patients and their medical history, are trusted by them and are available within 5-10 minutes from their homes,” Chushul Suri, Founder and CEO, Medbikri, said in a statement. The company aims to convert the pharmacies in to e-clinics, it will enable them to offer customers doctor consultations, diagnostic tests and other basic procedures.
“This benefits patients as they will no longer need to travel long distances and endure protracted wait times at faraway hospitals and clinics to get treated. We also plan to solve pharmacies’ working capital, GST and medicine procurement issues, in addition to giving them access to a new D2C brand supply,” Suri added.
Medbikri is reportedly the first Indian app-led pharma inventory management solution, where pharmacists can update their inventory through photos of bills, reducing the process time from one hour to under 15 minutes, with the help of built-in tools such as billing, GST support, inventory management and pharma-specific CRM.
Medbikri is already running e-clinics at select pharmacies across India. The company plans to open 10,000+ e-clinics across the country, including at select pharmacies in Lucknow this year. According to the company, the app has already helped to sell 25L+ medicines, including over 30,000 unique medicines, and in issuing over 1.5Lakh prescriptions, including more than 40,000 chronic patient prescriptions.
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