Zeelab Pharmacy raises $2.4M from OTP Ventures
The startup plans to accelerate its retail network, developing 60-minute delivery capabilities across metro and non-metro cities.
Omnichannel healthcare brand Zeelab Pharmacy said on Wednesday it secured $2.4 million in its maiden funding round led by OTP Ventures, with key partners Suhail Sameer (former BharatPe CEO) and Kunal Suri driving the investment.
According to a statement, the startup will use the fresh capital for expansion plans. It also plans to accelerate its retail network, developing 60-minute delivery capabilities across metro and non-metro cities, and cementing its position as a leader in the Indian healthcare sector.
“This funding will serve as a catalyst for our growth plans, enabling us to further entrench our retail presence, bolster our delivery infrastructure, and fortify our omnichannel ecosystem. We believe this partnership will be instrumental in propelling our mission forward and creating a more inclusive and equitable healthcare ecosystem in India," said Rohit Mukul, Founder of Zeelab Pharmacy.
In 2019, the then 22-year-old Mukul started the Delhi-based startup to provide medicines at a 90% lower cost to patients and increase accessibility to medicines at their true price.
The company, which onboarded actor Randeep Hooda as its brand ambassador last year, has a network of over 225 stores and processes more than 1,500 orders daily.
Edited by Suman Singh