STOCK MARKET BSE NSE

'Same day delivery, more fulfilment centres on card', says Medikabazaar

Medikabazaar will penetrate its markets by building a large number of fulfilment centres in areas with higher demand, said Vivek Tiwari, founder and CEO, Medikabazaar. 

Published: 25th January 2020 09:50 AM  |   Last Updated: 25th January 2020 09:50 AM   |  A+A-

swiggy | food aggregators | food delivery

In line with its expansion, the company now will have around 300 delivery staff operating across India. (Representational image)

Express News Service

Medikabazaar, a B2B online start-up for medical equipment and supplies, is set to build its own logistics fleet ‘MBGO Captains’, which will help the company’s riders to deliver products within 24 hours of the order being placed.

Medikabazaar will penetrate its markets by building a large number of fulfilment centres in areas with higher demand, said Vivek Tiwari, founder and CEO, Medikabazaar. 

The company had recently raised $15.8 million in Series B funding led by HealthQuad, Ackermans & van Haaren and Rebright Partners.

The start-up has plans to establish around 45 additional fulfilment centres across India, of which more than 50 per cent are strategically planned for tier 2 and 3 cities, based on the company’s research pertaining to procurement and distribution requirements, said Tiwari, who founded the start-up in 2014.

In line with its expansion, the company now will have around 300 delivery staff operating across India. “We are planning to strengthen our team to three times the size it is today,” Tiwari said.

He further said they are working closely with the government.

“One of the few tie-ups we have is with Andhra Pradesh Med Tech Zone, where we enable hospitals to access our platform to experience and purchase the latest and technologically advanced medical products,” he said.

In February 2019, Medikabazaar partnered with the Association of Hospital Providers India as its Value Procurement Organisation (VPO) for member hospitals.

“We are its one-stop contact for all medical requirements. Under our VPO services, hospitals can opt for our proprietary AI-ML tool, VIZI, with which they can procure adequate supplies on time,” said the founder.

So, how does it manage the cost reduction of more than 10 per cent?

“We have a strong relationship with leading manufacturers that helps us procure goods with considerable margins and, in turn, allow us provide it to our partners and customers at a better price. Our extensive reach helps us to secure more favourable deals from manufacturers. We have a range of financing options available on our portal for customers, which gives them greater incentive to choose us as their preferred provider,” Tiwari explained.

He feels that the number of registered B2B start-ups in India has increased enormously in the past few years due to growing market opportunity, along with favourable government policies.

“Given the rapid growth of the start-up ecosystem, the upcoming Budget is expected to be pro-start-up. A large number of success stories in the B2B space are also motivating entrepreneurs to jump into the fray,” Tiwari said.
 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

edexworks
flipboard facebook twitter whatsapp