[YS Exclusive] Y Combinator-backed healthtech startup Farmako raises $1.6M for expansion
Summary
The startup is also in talks with some investors to close a Series A funding round later this year, confirmed the founders during an interaction with YourStory.Founded by college friends Aman Bhandula, Kaishu Sahu, and Nikhil Kumar, Farmako was started as an AI-powered EMR (electronic medical record) app for doctors to write digital prescriptions. "We decided that it would be better to partner with the government on our long-term EMR vision and we can straightaway launch services like quick medicine delivery. Hence, we pivoted," he added.Farmako ran an experiment in Gurugram, partnering with local pharmacy stores and Swiggy Genie for 30-minute medicine delivery. "We believe retail pharmacy is a huge market ($25 billion+) in India, and the current e-pharmacies run on the central warehouse, outdated software stack, and discount-driven models. We believe that we can provide a better value proposition to users with our quick delivery and personalised app, especially in Tier I cities in India," noted Bhandula.