Mumbai-based B2B pharma distribution startup Fundly.ai has raised $4 million in a funding round led by existing investors Accel and Multiply Ventures, along with participation from former RBL Bank executive director Rajeev Ahuja and other angel investors.
The company has also raised around $0.9 million in venture debt, taking the total capital raised through the latest financing to approximately $4.9 million.
Fundly.ai plans to use the fresh capital to expand its digital commerce, payments and credit offerings across India’s pharma supply chain. The startup is looking to build a technology platform that can help pharma retailers and distributors manage their procurement, payments and working capital needs in one place.
From Supply Chain Financing to a Full-Stack Pharma Platform
Founded in 2021 by Amit Chawla and Shreeram Ramanathan, Fundly.ai initially started as a supply-chain financing platform focused on pharma businesses.
The startup has since expanded its operations across three key areas: B2B commerce, payments and settlement infrastructure, and embedded credit.
Through its platform, Fundly.ai aims to bring these functions together and make it easier for pharma retailers and distributors to manage day-to-day business operations and access working capital.
The company’s approach combines digital commerce with financial services, allowing businesses in the pharma supply chain to handle procurement and payments while accessing credit through the same technology platform.
Accel-Led Funding Builds on Earlier Round
The latest funding round builds on Fundly.ai’s earlier $3 million seed round raised in 2023. That round was also led by Accel, with participation from Multiply Ventures and angel investors.
With the new capital, Fundly.ai plans to further develop its technology and expand its reach across India’s pharma distribution ecosystem.
The startup’s focus on commerce, payments and embedded credit comes as businesses across the pharmaceutical supply chain increasingly adopt digital platforms to manage procurement, settlements and working capital.
Fundly.ai is now looking to deepen its presence in the sector by expanding its digital offerings and building a more integrated financial and commerce infrastructure for pharma retailers and distributors.
-By Shivani Solanki
