Truemeds Raises $85 Million in Series C Funding to Expand Healthtech Reach Across India
Mumbai-based healthtech startup Truemeds has successfully closed its $85 million (approximately INR 740 crore) Series C funding round, signaling a major leap forward in its mission to make quality medicines more accessible and affordable across India. The funding was backed by top-tier investors including Accel, Peak XV Partners, WestBridge Capital, and Info Edge Ventures.
The Series C funding was raised in two strategic tranches. In the first tranche, Truemeds secured $44 million, led by Accel. The second tranche saw additional investment led by Peak XV Partners, formerly Sequoia India & SEA, demonstrating strong investor confidence in Truemeds’ growth trajectory and business model.
Founded with the vision of providing affordable alternatives to branded medicines, Truemeds has positioned itself as a leading player in the Indian generic medicine and e-pharmacy space. The company offers doctor-approved medicine alternatives, aiming to reduce healthcare costs without compromising on quality—a value proposition that resonates deeply with India’s middle and lower-income households.
Expansion Strategy and Use of Funds
Truemeds plans to use the fresh capital to execute its pan-India expansion strategy. This includes setting up new fulfilment centres in non-metro markets, thereby extending its services beyond Tier 1 cities. With a growing demand for online healthcare services in Tier 2 and Tier 3 cities, this move will help Truemeds scale efficiently and meet the rising needs of underserved populations.
Additionally, the company will invest heavily in engineering and product development to enhance its digital offerings. A significant portion of the funds will be used to build a technology hub in Bengaluru, tapping into India’s vast software talent pool to strengthen its backend systems, AI-driven medicine recommendation engine, and customer experience platforms.
By bolstering its technological infrastructure, Truemeds aims to streamline medicine ordering, improve last-mile delivery, and offer a seamless, data-driven experience to millions of customers across India.
Trusted by Investors, Built for Impact
Truemeds’ ability to raise substantial funding from globally respected investors underlines the rising potential of India’s healthtech sector. Investors are increasingly backing startups that are not only scalable but also solve deep-rooted structural problems in Indian healthcare.
The company has already shown impressive growth through its unique doctor-led teleconsultation and medicine subscription model. Its success lies in offering up to 70% savings on medicine costs, making quality healthcare accessible for all income groups.
With this Series C funding, Truemeds is well on its way to transforming the way Indians buy medicines—using data, technology, and scale to deliver trusted healthcare solutions.
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