2 days ago
Truemeds Secures USD 85 Mn Series C Funding to Expand Affordable Healthcare Access
The Series C round's first close was led by Accel, followed by a second close led by Peak XV Partners, with significant participation from WestBridge Capital and Info Edge Ventures.
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Mumbai-based e-pharmacy and telehealth platform Truemeds has raised USD 85 million in its Series C funding round led by Accel and Peak XV Partners. The round was completed in two tranches. WestBridge Capital and Info Edge Ventures also participated.
The company plans to deploy the capital to open additional fulfillment centers in high-demand non-metro regions, strengthen its engineering and product teams with experienced professionals, and establish a new office in Bengaluru to access India's technology talent pool. It also aims to triple its national penetration while expanding into diagnostic services within the next few months.
Founded in 2019 by Akshat Nayyar and Dr Kunal Wani, Truemeds offers clinically equivalent alternatives to branded medicines, enabling patients to save between 50 and 70 percent on monthly costs. The platform primarily serves chronic care patients, including those managing diabetes, hypertension, and cardiovascular diseases.
Operating in all major locations across the country, the company engages with around 600 doctors daily and employs about 3,000 people, including a 250-member head office team.
"Our vision is simple—to bring the lowest prices for medicines in India, while ensuring every patient gets the quality they can trust," said Akshat Nayyar, Co-founder and CEO of Truemeds. "With this funding, we're ready to strengthen our foundation, grow our offerings, and reach deeper into India's non-metro regions, where access to affordable healthcare can truly change lives."
The company recently launched its iOS application to reach a broader audience and is preparing to roll out diagnostic services in four pilot cities over the next two quarters. It also plans to integrate artificial intelligence and machine learning tools for product curation, personalized patient journeys, and demand forecasting to enhance supply chain efficiency for pharmaceutical partners.
Abhinav Chaturvedi, Partner at Accel, said, "India's healthcare market is undergoing rapid transformation, yet affordability continues to be a major barrier—especially in chronic care. Truemeds is bridging this gap with a clinically guided, technology-led platform that delivers transparency and accessibility at scale."
Sakshi Chopra, Managing Director at Peak XV Partners, added, "Their mission to make chronic care affordable for millions, especially in underserved non-metro markets, is both timely and transformative. By leveraging technology to deliver a seamless customer experience, they are redefining how essential medicines reach those who need them the most."
With this funding round, Truemeds is positioned to expand its role in India's growing healthcare market, focusing on affordability, accessibility, and innovation in chronic care delivery.
