• Friday, March 29, 2024

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Indian Startup Digi-Prex Secures Funding For Online Subscription Pharmacy

By: Admin Super

Hyderabad-based online subscription pharmacy startup Digi-Prex has raised $5.5 million (£4.5 million) in seed funding to offer convenient medicine delivery and payment to millions of Indians. Investors include Khosla Ventures, Quiet Capital, Y Combinator, SV Angel and Vedanta Capital.

Digi-Prex was launched in February by Samarth Sindhi, who is a mechanical engineering graduate from Brown University. Since then, it has helped a lot of customers in Hyderabad, and he is now planning to bring its operations to Delhi, Bombay, Chennai, Bangalore, Calcutta, Ahmedabad, Indore, Jaipur, and Cochin. The amount of funding he has received for the startup shows how there is a lot of international interest in his product.

Door-to-door pharmacy

Customer experience is king in today’s digitally transformed industries. Digi-Prex will service a huge number of people in India with recurring medication needs. The patients will pay a subscription fee on a monthly basis and get access to discounted medicines, delivered directly to their homes.

However, Digi-Prex is not just a platform for door-to-door delivery, but the promise of a personalised pharmacy service. It also sends automated reminders for patients so that they can avoid running out of their supply. While Practo, NetMeds, 1mg, PharmEasy are some of the most popular online pharmacies in India, the personalised service is what differentiates Digi-Prex.

WhatsApp Integration

One key aspect of Digi-Prex’s innovation is its WhatsApp based ordering. By sharing their prescriptions on the popular app, Digi-Prex connects patients with pharmacies to deliver their medicine directly to their home. With the use of its AI platform, it personalises communication between the patient and pharmacies on the social media platform.

WhatsApp is now widely used as a digital marketing tool as the platform enables personalised one-on-one marketing. Many startups, especially in WhatsApp saturated markets like India, have used the platform as their main marketing strategy. Ayima explain how development resource is one of the biggest hurdles for startups in order to gain traction in the digital market place. This is why more startups are turning to popular social media sites to drive traffic and increase their customer base. As WhatsApp recently launched its own payment system in India, startups like Digi-Prex can now provide more convenient ways of offering services.

Revolutionising healthcare in India

The healthcare market in India is one of the largest in the world. Tech in Asia reports that healthcare in India is projected to become a US$372 billion (£286 billion) industry by 2022. With thousands of people in the country living with chronic diseases like diabetes, heart and kidney diseases, Digi-Prex is set to bring them medicine in convenient ways.

Not only that, one huge benefit of the startup is it sells the prescription drugs at least 15% cheaper than regular pharmacies. As Digi-Prex works directly with medicine distributors, it can purchase medicine at discounted rates. This means that Digi-Prex will also help reduce the number of fake medicine that can be found in local apocatheries. As the startup works with industry giants, eliminating fraudulent medicine in the chain will now be more possible.

With the wide customer scope that WhatsApp reaches, along with the cheaper medicine it offers, Digi-Prex is poised to service millions of people across India and change healthcare in the country.

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