Tamil Nadu Emerging Sector Seed Fund (TNESSF) has successfully organized a $500,000 fundraising initiative for MrMed, an online pharmacy. This funding round included participation from BEEJ Network and Vish Entrepreneurs LLP. The capital raised will be allocated for marketing initiatives, team expansion, and the exploration of new business prospects within the healthcare service provider and pharmaceutical supply chain sectors.

MrMed, founded in 2021 by Devashish Singh and Saurab Jain, specializes in providing super-specialty medications for serious health conditions like cancer, kidney disease, heart disease, HIV/AIDS, transplants, and hepatitis. The platform addresses issues related to expensive specialty medications and delayed access to affordable drugs.

MrMed claims to serve more than 50,000 users across over 2,000 Indian towns, cities, and villages, with an Annual Recurring Revenue (ARR) exceeding 26 crores. It has reportedly assisted 20,000 customers to date.

The government of Tamil Nadu has established the TNESSF to support emerging businesses in growing industries. This investment underscores TNESSF’s commitment to promoting innovative solutions, especially within the emerging e-pharma sector.