HYDERABAD: DIGI Prex, a Hyderabad-based online pharmaceutical startup, which delivers medication for chronic diseases using prescriptions shared by patients on WhatsApp, raised $5.5 million recently.
The seven-month-old startup, which was shortlisted for Y Combinator’s Demoy Day in August, raised the sum from Khosla Ventures, Vedanta Capital, Y Combinator, Quiet Capital, and SV Angel during its seed round. Digi Prex was founded by Samarth Sindhi, a mechanical engineering graduate from Brown University.
During the event, the company was also able to garner interest from Liquid 2 Ventures, Pioneer Fund and Justin Mateen, one of the founders of Tinder. The company said that the fresh funds would help expand its business across 10 cities in India and providing patients with better access to physicians and offering them more information about their diseases.
The company works directly with medicine distributors, doing away with middlemen, and thereby lowers its costs. A patient has to pay a monthly subscription fee to get access to their discounted medicines which are delivered to their homes.