On-demand delivery healthcare start-up Pluss raises US$1 mn

Chennai: Pluss, an on-demand medicine and healthcare products delivery service start-up, has raised $1 million in pre-Series A funding from IDG Ventures India, m & s partners (Singapore) and Powerhouse Ventures (USA).

The funding amount will be used to upgrade its technology and expand technical team, perform aggressive marketing, and establish a presence in 5 cities and pilot new projects.

Based out of Gurgaon, Pluss was incorporated in 2015 by Atit Jain, Madhulika Pandey and Tarun Lawadia.

Through their own fleet of delivery executives, named as 'Pluss Men', Pluss takes the responsibility of fulfilling the orders on time. The team, comprising licensed pharmacists and trained delivery executives, is equipped to handle medicine properly and make sure that they are delivered with utmost care.

Atit Jain, CEO of Pluss said that with the help of this funding, the company will expand its presence across five cities by the end of this year.

"Pharmacy retail is highly dis-organised in India. The technology platform lends itself with an audit trail and will be better placed to meet the compliances as they evolve.

"IDGVI is very excited to partner with Pluss to address this huge opportunity" said Ranjith Menon, Executive Director at IDG Ventures India Advisors.

The company claims the app subscriber base has grown more than 50% month on month and has tripled in the last three months. The app order volume has grown four times since September with peak traffic of 500 orders per day.

By the end of this year it plans to add a lot more to its product categories, including Medical Tests and Surgical Equipment. With the health products market expected to grow at a CAGR of 15% and touch $158.2 Billion in 2017, Pluss has placed a bet on hyper local delivery, envisioning emerging as India's reigning name in the healthcare sector, according to company's release.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.