<article>Online pharma aggregator <a style="color: #000080;" href="http://www.netmeds.com/about-us" target="_blank">Netmeds.com</a> has raised $50 million funding led by OrbiMed, a healthcare-focused investment firm, the company said on Monday.</article>

Online pharma aggregator <a style="color: #000080;" href="http://www.netmeds.com/about-us" target="_blank">Netmeds.com</a> has raised $50 million funding led by OrbiMed, a healthcare-focused investment firm, the company said on Monday.
The investment will be done in tranches which includes $30 million from <a style="color: #000080;" href="http://www.orbimed.com/" target="_blank">OrbiMed</a> and rest $20 million from its earlier investor <a style="color: #000080;" href="http://mapegroup.com/" target="_blank">Mape Advisory</a>.
As part of the deal, OrbiMed’s Sunny Sharma will join the company&#8217;s board of directors.
The company plans to use around $10 million immediately for back-end development and to augment its logistics infrastructure. It will also use the funding to increase consumer awareness.
“This additional funding is a great vote of confidence in the Netmeds.com vision of providing access to a full range of genuine medicine and reliable healthcare products to the consumer. Plans are also underway to put in place an excellent supply chain management system,” said Pradeep Dadha, CEO and founder of Netmeds.com.
Netmeds.com is promoted by <a style="color: #000080;" href="http://www.pdgoc.com/business.html" target="_blank">Dadha Pharmaceuticals</a> and investment bank Mape Advisory and was launched in July 2015.
The company supplies over 50,5000 stock keeping units (SKUs) across the country. Currently, it has a warehouse in Chennai  and is in the process of putting up more.
Through its website, Netmed offers an option to upload the prescription online and ordering medicine through its mobile app on iOS and Android smartphones.
The app also helps the consumers to maintain the records of their medicines and provides reminders. Netmeds sells medicines across 300 cities and delivers the medicines in three-four working days.
OrbiMed, a US-based fund which has $15 billion assets under management, provides funding to private companies as well as large multinational corporations in the healthcare industry.
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Online pharma aggregator Netmeds.com has raised $50 million funding led by OrbiMed, a healthcare-focused investment firm, the company said on Monday.


India: Netmeds.com raises $50m funding led by US-based OrbiMed

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