Hyderabad based healthcare startup BookMeds has raised a seed funding of $100,000 USD from Fabella Singapore.
The company will use the capital to drive sales and marketing and to take the idea to the masses.
Founded by Mohammed Abubakr, an ex-Microsoft, BookMeds is an ecommerce portal for medicines and medical products. BookMeds allows people to order medicine and medical products from the convenience of their home. Order will be filled and delivered by a qualified and trained pharmacist to doorstep within 24 hours.
“Ecommerce in India is growing tremendously, while the generic ecommerce space is already crowded, niche players like BookMeds are very attractive as they can build on the ecommerce habits Indians are developing. The impact BookMeds is going to have as it helps the senior citizens and people who need to purchase medicine regularly is phenomenal,” said Krish Datta, founder of Fabella, as per the press release from BookMeds.
A resident and a Citizen of Singapore, Mr. Datta is the CEO of BackOffice Associates for the Asia Pacific, Japan and the Middle East region, after spending 16 years with SAP, last as the President of SAP South East Asia and Emerging Markets.
The pharmaceutical market in India is the third largest in the world; the ecommerce is an emerging channels for medicine and medical equipment and products. Many companies like HealthKart, MedPlus and Appollo pharmacy are vying for the piece of that pie. BookMeds will make its mark through reliable service, care, and customer service.