Bengaluru-based online pharmacy and tele-consultation platform PlatinumRx has raised $6 million in a funding round led by Stellaris Venture Partners, with participation from existing investor India Quotient.
This comes after the startup’s earlier $800K round. The fresh funds will be used to scale operations, expand fulfilment centres, and strengthen its product and tech teams, the company said in a statement.
Founded in 2023 by Ashutosh Pandey and Piyush Kumar, PlatinumRx provides affordable alternatives to branded medicines by sourcing directly from large pharmaceutical companies. Customers can access medicines with identical salt, strength, and efficacy, often saving 50–60% on purchases.
The platform features a 4-layer quality check, a flexible return policy, and offers a range of products including chronic medications, vitamins, and supplements. PlatinumRx currently has two fulfilment centres in Bengaluru and Delhi, with plans to open five more in the next 12–18 months.
Since launch, the startup has served over 2 lakh patients across 20,000 pin codes, offering 1-day delivery in metros and 3–5 days in non-metro cities.
“Our job is to ensure medicine quality while enabling people to access the same treatment at a much lower cost,” said Ashutosh Pandey, co-founder of PlatinumRx.
PlatinumRx competes with players like Tata 1mg, PharmEasy, Netmeds, and Apollo in India’s growing e-pharmacy market.
By: Arushi Agarwal
