6 Nov 2016


Medicine Delivery App Medzin Raises $45 K

Delhi based online medicine marketplace Medzin which is operated by Medhealix Healthtech Pvt. Ltd. has secured a funding of Rs 30 Lakhs ( $45 K )  by the angel investor A.M Sikander. Having recieved an initial funding of Rs 20 Lakhs the app has so far raised Rs 50 Lakhs in latest round of fundings.

Medzin which is available as an app, is an online marketplace for medicine . Its services includes online ordering and delivering of medicines, selling of wellness and healthcare products, doctors appointments and laboratory bookings. It has its own in-house logistics team and currently has 30 pharmacies registered on its platform . The firms 60% of revenue comes from directly selling the medicines to its customers via its platform and it also generates its revenue from the the commision it recieves from the pharmacies registered on its platform.

The company was founded in November 2015 by Vishnu Shankar, Madhav Shankar, and Raghav Sarda . Currently the app has more than 150 doctors on its platforme and it charges  between INR 200 to INR 400 for its registrations .  The firm has catered to 200-300 orders on average, along with 8,000 to 9,000 downloads on the App Store and Play Store. He also claims that the company has managed to get about 20-30% return customers. It presently offers its services only in Delhi. It palns to expand in Mumbai and Bengaluru and is also planning to launch a website.

The funds raised by Medzin will be used in product development, growth, and marketing purposes.
Others in this segment  or if we say the competitors of medzin then there are names like Practo, Curofy and Portea among others.