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Netmeds raises $14 million from Tanncam, Sistema Asia Fund

By PTI On October 31, 2017

Tanncam and Sistema will join early investors investment bank MAPE and OrbiMed Asia, along with Pradeep Dadha and his family, as stakeholders in the company, Netmeds said in a statement.

NEW DELHI: Online pharmacy Netmeds has raised $14 million (over Rs 90 crore) in the latest round of funding from Cambodian investment holding company Tanncam and venture firm Sistema Asia Fund.

Tanncam and Sistema will join early investors investment bank MAPE and OrbiMed Asia, along with Pradeep Dadha and his family, as stakeholders in the company, Netmeds said in a statement.
Netmeds CEO Pradeep Dadha said, "We believe that this round of funding reflects a renewed confidence in the industry and its future, brought about by both GST and the government's release of the draft of rules governing online pharmacies."

The investment will be used to continue to build upon Netmeds' consumer base and expand its reach to more locations in the country, he added.

"Netmeds is changing the paradigm in the pharma market in India and we strongly believe in the merit ..

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