Investment in startups by celebrities has become a thing of the era. Earlier in October 2019, Singer Sukhbir Singh had invested in MEngage, a health care brand.
It now seems that the Healthtech startups are becoming a favourite of Sukhbir as he has made a second investment in the sector in Jaipur-based startup MEDdelivery. The infusion comes after the singer announced an undisclosed investment in international music startup Flutin earlier this week.
In an official statement, Sukhbir Singh said,
MEDdelivery is solving the problem of MSMEs in the pharmaceutical industry by becoming the technology procurement partner of retail pharmacies and helping them overcome the supply-chain inefficiency and improving overall accessibility in the Indian healthcare industry.
MEDdelivery was founded in 2018 by Aastha Dusad, Rohit Bafna and Rahul Gautam. The startup is a B2B pharma-tech platform that organises and integrates commerce, logistics, and data across a single value chain for daily fulfilment of Indian retail pharmacies.
The startup said it is offering 4,00,000+ products and has transacted GMV of over Rs 5 crore by catering to small retail pharmacies in Jaipur, with a daily average order size of Rs 5,000 to Rs 15,000.
As per a report prepared by Assocham and research firm RNCOS, over 9,00,000+ small medical stores, which is a $372 billion market, are navigating the massively fragmented supply-chain for their daily procurements of medical supplies.
Notably, Singh has invested in startups including LQI, MEngage and eBikeGo.