India’s online healthcare marketplace Inayo gets US$300K funding
Investors include Kemark Ventures, SlideShare Founder Amit Ranjan and Toppr Co-founder Zishaan Hayath
Mumbai-based online healthcare marketplace Inayo has raised US$300,000 in seed funding from Kemark Ventures, with participation from angel investors including Amit Ranjan, Founder of SlideShare, and Zishaan Hayath, Co-founder of Toppr.com.
Also Read: What you need to know before taking Venture (or Vulture?) Capital
“The funding raised will be used in [the] expansion of Inayo in 22 localities in Mumbai, Delhi [and] Bangalore, as well as for enhancing the product features. We also plan to process 100 orders per day by October end,” says Raunak Jain, Co-founder of Inayo.
The company also plans to foray into other healthcare services including on-demand pathology tests.
At present, Inayoperates in the Powai and Andheri areas of Mumbai. It offers a selection of more than 30,000 healthcare products that it claims can deliver within 90 minutes of placing the order.
Users can also set reminders and instructions for their medication through Inayo’s Android app.
Also Read: In Photos: On the ground as Taiwan Startup Stadium pivots
Founded by Jain, Abhishek Sinha and Purna Chandra, Inayo offers products across various categories such as medicines, Ayurveda, sports nutrition, personal care, and baby care.
Customers can also order prescription drugs by uploading a scanned copy or photograph of a valid prescription on the app.
The company estimates the healthcare products market to grow at a CAGR of 15 per cent to reach US$158 billion by 2017.
The post India’s online healthcare marketplace Inayo gets US$300K funding appeared first on e27.
