Join our Waitlist for Expert Advice!

Online Pharmacy Start-up Medlife Raises INR 110 Cr from Wilson Global Opportunities Fund The funds will be utilized for working capital requirements, marketing business activities, technological development, employee costs, and to support the future growth of the company

By Bhavya Kaushal

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock.com

Online pharmacy start-up Medlife has raised INR 110 crore through the issue of 1,10,000 non-convertible secured debentures from Wilson Global Opportunities Fund according to Registrar of Companies (ROC) filings accessed by Entrepreneur India.

According to the document, the funds will be utilized for working capital requirements, marketing business activities, technological development, employee costs, and to support the future growth of the company.

Medlife was founded by Prashant Singh and Tushar Kumar in 2014. The Bengaluru-based healthtech start-up is currently operating in 29 states and over 4000 cities and towns across the country.

Medlife, raised $17 Mn in an equity funding round in April this year from the family trust of Kumar, Prasid Uno Family trust. In May this year, Medlife also acquired medicine delivery start-up Myra Medicines for an undisclosed amount.

Challenges of the Ecosystem

The online e-pharmacy ecosystem has been facing tough times. Last year, The Madras High Court imposed a ban on the e-pharmacies that were operating without a license. Moreover, fake drug menace in the country wherein the authenticity of medicines is getting questioned too brought the healthtech ecosystem under the radar. The government, on its part, is yet to come up with a proper framework that would clarify the position of e-pharmacies in India.

Additionally, the healthtech ecosystem in India is in need of investment. The entrepreneurs from this space have often highlighted how investors need to provide greater financial support to healthtech start-ups to spur innovation and growth. They have also refuted the claims that the sector promises less returns and have concluded that healthtech has potential to produce great returns. All these challenges are some of the reasons why making healthcare affordable and accessible is a dream, India continues to achieve.

Apart from Medlife, PharmEasy, 1mg and Netmeds are a few other start-ups in the e-pharmacy space that have carved a niche in the sector.

Bhavya Kaushal

Former Features Writer

I am a work-in-progress writer and human being. An English graduate from Delhi University, writing is my passion and currently, I was Entrepreneur India's start-up reporter. I love covering start-ups and weaving their stories into unforgettable tales with the power of ink! 
Growing a Business

Entrepreneurs Need to Develop These 5 Qualities to Be Successful

Being confident and willing to embrace calculated risks are just two of several qualities that can lead to entrepreneurial success.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Thought Leaders

These 3 Trends Will Change What It Means to Be an Entrepreneur in 2025

Here are three entrepreneurship trends from the new Global Entrepreneurship Monitor report that are changing the landscape for the future.

News and Trends

On-Demand Home Services Startup COOX Raises USD 125K Funding from Inflection Point Ventures

COOX aims to use the new funds to expand from 20 to 40 cities, enhance marketing efforts, and integrate AI technology to improve operational efficiency and scalability.

Business Ideas

87 Service Business Ideas to Start Today

Get started in this growing industry, with options that range from IT consulting to childcare.