About and Info:
Netmeds is an Indian online pharmacy marketplace, it is the supplementary company of Dadha and Company which is the most trusted pharmacy having more than 100 years of experience in providing medicines in the market.
- Founder: Pradeep Dadha
- Founded: 2010
- Headquarter: Chennai
Funding Investors:
- Netmeds had secured about $50 million of funding.
- Orbimed helped it to raise its funds.
- Investors, including MAPE Advisory Group, earned 65 crore capital Investors.
Business Model:
It is a licensed online pharmacy marketplace that offers verified prescriptions, medicines, and health products. It has a group of pharmacists who examine the medicines before delivering them to consumers. It started as importers than retailers and from retailers to one of the leading online pharmacy marketplace.
Marketing Strategies:
- Social media
- Online advertisements
- Push notifications and emails are used to reach more people
- By starting various campaigns
- Collaborating with other companies
Challenges faced:
- Reaching to more and more and people
- Less number of staff members
- Delivering issues of medicines.
- Most of the time people prefer offline stores rather than online.
- Competition with other online pharmacy companies.
Successive Factors:
- Availability of all type of medicines
- Expert pharmacists
- Fast delivery options
- Support from Dadha and company
Result:
It is one of the leading online pharmacy marketplace supplying medicines all over the country. It was honored with an NDTV Unicorn startup award and was recognized as the best startup company of the year. Founder Pradeep Dadha worked in his family pharmaceutical company where he set up netmeds online retail pharmacy.
I hope you enjoy the information.