Mumbai-based healthtech startup Truemeds has raised INR 174 crore (about $20 million) in its Series C funding round. The new investment came from Peak XV Partners.
This round adds to the INR 365 crore ($44 million) that Truemeds had already raised in March, led by Accel.
According to official filings, Truemeds raised the money by issuing 19,737 Series C2 shares at a price of ₹88,331 each to Peak XV.
The company plans to use the funds to grow its business and expand to more areas.
Naitik Nayyar and Akshat Wani started Truemeds. The company helps people save money on medicines.
Users can upload their prescriptions, and Truemeds suggests cheaper, generic alternatives to the prescribed medicines.
Truemeds is based in Mumbai and also sells personal care products, vitamins, supplements, and health devices on its platform.
In FY24, the company doubled its revenue to INR 315 crore and reduced its losses by 9%, bringing them down to INR 61 crore.
Read more- Kettleborough VC Launches Second Fund of INR 80 Crore
