The company is India’s first e-Distributor which enables users to buy medicines online and has also come up with a solution to ensure efficiency and transparency in the Indian pharma Industry through the help of the CareOnGoPartner app. This app is being used by a cohesive list of 700++ pharmacies they have tied up with to order medicines in bulk from retailers.
In order to ensure transparency and strengthen the logistic and supply chain of medicines from top to bottom the company has launched its proprietary analytics platform ‘Pharmalytics’ which enables co-branded pharmacies to study sales insights of most-selling medicines and OTC products in their areas, thus allowing them to shift from blind inventory to measured inventory.
Not only this, the platform also enables automatic customer profiling by capturing very localized data of supply and demand thus enabling big data analytics on individual customers of any area. The analytics platform also captures the essence of seasonality thus helping pharmacies to stock medicines and other healthcare products well in advance. For example if the flu season is near the platform will capture and share intelligent data with pharmacies on the expected demand of flu medicines in the particular pharmacies local area and the amount of flu medicines the pharmacy needs to stock up on.
Differentiating itself from other healthcare players in the segment, the company is redefining end-to-end solutions by catering to the needs of the micro-pharmacies from both procurement and sales segments. The company is providing POS solution to these pharmacies to streamline the payment process, both online and offline. Their ERP solution is linked to the inventory of the pharmacy, enabling real-time availability of medicines and OTC products. The ERP solution uses the localized demand analytics data helping them in predictive inventory management for greater savings and better stock management.
The strong customer focused app not only allows customers to buy medicines but also suggest complimentary OTC products to buy along. The recommendation algorithm study the browsing behaviour and buying pattern to suggest products most needed by the consumers. The app is adding 20,000 chronic patients every month on their platform ensuring repeat business and standardized services for the pharmacies.
The online pharmacy platform has witnessed tremendous growth so far with entering the B2B space by enabling bulk procurement for the micro-pharmacies. The co-branded pharmacy store has seen 200% growth in his business by leveraging this network.They have also raised $300,000 dollars in seed funding and an undisclosed amount in their Pre Series A funding recently by a consortium of investors, which includes Anupam Mittal and Anand Mittal of People Group; Ravi Garikipati, Head of Flipkart’s ads business; Vibhu Garg, Co-Founder of Unicommerce; Singapore Angel Network and Konglo Ventures among others.The round also saw participation from US, Singapore and Muscat-based investors.
