Truemeds, the Mumbai-based e-pharmacy platform, has secured Series C funding of $85 million to expand its reach in chronic care, launch diagnostic services, and deploy AI-driven tools for supply chain optimization. The round, completed in two tranches, was led by Accel and Peak XV Partners, with participation from WestBridge Capital and Info Edge Ventures.

The Series C funding will fuel Truemeds’ expansion into underserved non-metro regions by opening new fulfillment centers, strengthening its engineering and product teams, and establishing a Bengaluru office to tap into India’s tech talent. The company will also pilot diagnostic services in four cities within two quarters, aiming to triple national penetration.

“This funding strengthens our foundation to make managing chronic illnesses easier and more accessible. Our goal is simple, which is to provide the lowest prices with trusted quality, reaching deeper into India’s underserved non-metro regions,” said Akshat Nayyar, Co-founder and CEO.

In addition, Truemeds plans to roll out advanced AI-driven tools for product curation, patient journey optimization, and demand forecasting, thereby enhancing efficiency in medicine delivery for patients with chronic care needs.

Truemeds Addressing the Affordability Gap

Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds offers clinically equivalent substitutes to branded medicines at 50–70 percent lower prices.

This model directly benefits chronic care patients with conditions like diabetes, hypertension, and cardiovascular disease. By leveraging technology and its nationwide logistics network, the platform currently serves patients in all major Indian cities and towns.

In FY24, Truemeds doubled its revenue to INR 315 crore, while narrowing its losses by 9 percent to INR 61 crore. The company engages 600 doctors daily and employs 3,000 people, including a 250-member head office team. It competes with leading telehealth players such as PharmEasy and Tata 1mg, but its cost-saving approach gives it a unique market edge.

Accel Partner Abhinav Chaturvedi highlighted India’s chronic care affordability challenges and said, “Truemeds bridges this gap with a technology-led, clinically guided platform delivering transparency and scale.”

With the latest Series C funding, Truemeds is well-positioned to bridge India’s medicine affordability gap further. The planned diagnostic services and AI-driven tools signal a shift toward integrated care, positioning the e-pharmacy as a key player in shaping the future of chronic care delivery in India.

Peak XV’s Sakshi Chopra added, “Their mission to make chronic care affordable in non-metro India is timely and transformative, redefining medicine access through technology.”

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