MrMed, a specialty pharmacy, announced funding of $500,000 from the Tamil Nadu Emerging Sector Seed Fund (TNESSF). TNESSF is managed by Tamil Nadu Infrastructure Fund Management Corporation Limited. Angels from BEEJ Network and Vish Entrepreneurs LLP also joined TNESSF in the funding round. The funds will be utilized for marketing initiatives, expanding the team, and exploring new ventures within the pharma supply chain and healthcare service provider sectors.

MrMed clocked an Annual Recurring Revenue (ARR) of over Rs 26 crore as of July 2023. Devashish Singh, co-founder, Mr. Med, said in a statement, “We are quite excited about the fundraising and are looking to utilize the funds for customer acquisition and team growth. While we are a frugal company, we recognize the challenges in the B2C domain.” He adds, "Our objective is to establish a profitable yet scalable brand in the super specialty healthcare space.

Ensuring the same level of customer service and operational excellence.” Shanmugapraveen from Tamil Nadu Emerging Sector Seed Fund said in a statement, “MrMed is an impactful venture in healthcare by making specialty treatments more affordable and bringing pricing transparency through their digital platform. We are delighted to partner with MrMed on their growth journey."