E-pharmacy and telehealth platform Truemeds has raised $85 million in Series C funding to drive expansion into smaller cities and towns. The round, completed in two tranches, was first led by Accel and later by Peak XV Partners, with ongoing support from WestBridge Capital and Info Edge Ventures.
The Mumbai-based company will use the capital to triple its national presence by adding fulfillment centers in high-demand non-metro areas, hiring top engineering and product talent, and opening a new technology hub in Bengaluru.
Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds focuses on chronic care medicines, using a proprietary algorithm to recommend lower-cost, clinically equivalent alternatives to branded drugs. This approach helps patients save between 50% and 70% on their monthly bills, fueling more than 100% year-over-year growth.
India’s shifting demographics support the company’s mission—21% of the country’s 158 million elderly live with at least one chronic illness, with rates reaching 29% in cities. Outside metros, affordability and consistent access to quality medicines remain significant challenges.
“Our vision is simple—to bring the lowest prices for medicines in India while ensuring every patient gets the quality they can trust,” said Nayyar. “With this funding, we’re ready to strengthen our foundation, grow our offerings, and reach deeper into non-metro regions.”
Beyond prescription medicines, Truemeds is moving into diagnostics, with pilot services launching in four cities in the next two quarters. The company recently debuted an iOS app and plans to integrate AI- and machine learning-powered tools for personalized patient journeys and demand forecasting.
Currently, Truemeds collaborates with about 600 doctors daily and employs 3,000 staff across fulfillment centers and offices. In line with India’s startup wealth creation trend, the company has introduced an ESOP buyback program for employees.
“Affordability continues to be a major barrier—especially in chronic care,” said Abhinav Chaturvedi, Partner at Accel. “Truemeds is bridging this gap with a clinically guided, technology-led platform that delivers transparency and accessibility at scale.”
Truemeds operates in a rapidly evolving sector where rising healthcare costs and changing consumer habits are pushing patients toward affordable generics. Competitors like Netmeds, PharmEasy, and 1mg are also deepening their generic offerings while expanding into diagnostics and teleconsultations.
Smaller players such as Medkart and Saveo are targeting semi-urban and rural markets with hybrid models that combine online ordering with physical pharmacy networks. At the same time, the industry is seeing consolidation, with large corporates and marketplaces acquiring niche platforms to expand distribution.
However, the competitive landscape is being reshaped by price regulation under India’s National List of Essential Medicines (NLEM), tighter e-pharmacy rules, and the need for strict compliance in drug sourcing.
