Kolkata-based TABLT Pharma has raised $1.5 million in their pre-Series A round by JITO Angel Network, Tech Innovation, Let’s Venture, Seeders Syndicate, Angel Bay and a few angel investors. The venture plans to open fulfilment centres in Bhubaneswar, Patna, and Siliguri.
TABLT Pharma was founded by Anish Agarwal and Anant Jain in 2018. The venture focuses on medicines, over-the-counter (OTC) and other healthcare-focused products. It has cracked the code of cold storage facilities for medicines, an area where the online pharmacies lack.
The venture presently serves in 500 towns of West Bengal, Bihar, Jharkhand and Odisha. They deliver medicines within guaranteed 24 hours in the remotest parts of India where 65% of the country’s population resides. Its USP of 24 delivery has helped it gain traction.
With the funds, the startup plans to build its team in marketing, tech and product domains along with plans to roll out 500 new franchises by the end of 2022. By the end of the year, they plan to host a network of 1000 franchises. They have so far experienced six-fold growth since April 2020. In the next fifteen months, they plan to grow by 4x. In the next 2 years, they hope to be present in more than 10 states of India.