Thu. Mar 28th, 2024
Subscription Pharmacy LifCare raises ₹75.8 crores in series BSubscription Pharmacy LifCare raises ₹75.8 crores in series B

Jaipur-based startup LifeCare has raised ₹75.8 crores ($11 million) in series B funding led by SAIF Partners, Nexus Venture Partners and IL&FS. The funds raised will be used to expand its presence in the country, along with investing in technology to provide more services for its patients.

Krishna Killa, Chief Executive Officer & Co-founder of LifCare, says, “In the last two years, we’ve aimed to build a simpler and better pharmacy experience. We greatly value the confidence our investors have shown in our strategy and our commitment to build a sustainable subscription pharmacy. With this round, we’re excited to further expand our geographic footprint. We will also look to expand our suite of services to become a full-service disease management platform for chronic patients.”

LifCare was founded by Deepesh Rajpal, Krishna Killa, and Rohit Mohta in 2015. Indias first subscription pharmacy LifCare aims to enhance the whole pharmacy experience for patients with chronic diseases by the relationship-oriented and technology-driven approach. It also provides a 15% discount for its patients on all regular medication needs. It is currently operational in Jaipur and Delhi.

The startup serves more than 300,000 families refilling their medicine needs every 30-60 days. LifCare focuses on patients with chronic illnesses requiring ongoing medication. Majority of the patients are suffering from chronic diseases like diabetes, cardiac condition, hypertension, renal disorder, thyroid, etc. Also, the startup uses intelligent data-driven technology to refill the medicine to ensure constant medication for its patients.

LifCare is also looking to provide end to end services for its patients to help them manage their disease better.

With about 25% of the country’s population suffering from chronic diseases nearly 30% of the populations fails to adhere to the medicine maintenance that leads to hospitalisation of patients. In 2015, around 300,000 lives were lost to diabetes alone. Technology-driven healthcare can dramatically improve the lives of patients in the country.

Other players working in the pharmacy domain to improve the lives of its patients include NetMeds, Medlife, 1mg, PharmEasy, along with MedPlus and many others.

By Varun

Startups | Books | Ideas

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