[Funding alert] B2B healthcare product distribution platform Biddano raises Rs 5Cr led by Venture Catalysts
Startup incubator and accelerator Venture Catalysts recently led a Rs 5 crore investment in, a Pune-based tech-enabled B2B healthcare product distribution platform. The pre-Series A funding round also saw participation from other early-stage investors including LetsVenture.
“Our mission is to solve the problem of availability of medicine by organising the healthcare supply chain. We are empowering pharmacies and distributors to create a stronger, robust, and efficient ecosystem for healthcare consumers,” said Talha Shaikh, Co-founder, Biddano.
"The pre-Series A funding serves to reaffirm our faith in our business model and motivates us to continue building on this tech-led disruption that we have created in the Indian pharmaceutical space," he added.
Talha Shaikh, Co-founder, Biddano
Established in 2016 by Talha Shaikh and Ashok Yadav, Biddano aims to revolutionise offline pharma distribution networks by bridging supply-chain gaps between distributors and chemists through technology. It uses a ‘plug and expand’ model to help distributors manage their demand and supply while expanding their geographical reach.
The platform further simplifies order management for chemists and hospitals by enabling orders from multiple distributors to be easily consolidated into pharmacy-specific deliveries.
Through its state-of-the-art fulfilment infrastructure, Biddano also ensures that pharmacies, chemists, and hospitals, etc., can procure medicines in less than three hours of placing an order.
“Biddano’s model is unique. Many tech-led pharma startups are solving for the online purchase and doorstep delivery of medicines for the end-consumer, whereas Biddano aims to revolutionise the conventional supply chain by addressing the gaps in offline pharma networks,” added Apoorva Ranjan Sharma, Co-founder and President, Venture Catalysts.
With its AI-led approach increasing the reach and speed of healthcare delivery for various stakeholders, Biddano said it wants to become a one-stop solution for all the procurement and fulfilment needs for chemists and hospitals.
The platform currently has its eyes set on the Indian pharmaceutical market, worth over $24 billion at present, and comprising over one million chemists and 65,000 distributors.