India’s chronic patient base exceeds 400 million, making it one of the largest medicine markets in the world but affordability remains a barrier. Mumbai-based Truemeds has tackled that gap by steering patients toward lower-cost generic alternatives instead of chasing ultra-fast delivery.
That strategy is paying off. The six-year-old startup has secured $85 million in fresh funding, $65 million in primary and $20 million in secondary, led by Accel, with participation from Peak XV Partners, WestBridge Capital, and InfoEdge Ventures. The round values Truemeds at over $400 million, nearly four times its last valuation in 2022.
Founded in 2019, Truemeds focuses on chronic patients, claiming users save up to 47% on medicines by switching brands. The company now serves 500,000 monthly customers across 20,000 postal codes, with three-quarters from India’s tier-2 cities and beyond. Revenue grew 66% year-over-year to ₹5 billion ($57 million) last year.
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Instead of competing on speed, Truemeds has increased its average discounts from 29% to 32% in the past year, leveraging deep procurement ties and efficient logistics to pass on savings. The startup is also investing in AI tools for personalized consultations and plans to expand into diagnostics via partnerships with national pathology labs.
Looking ahead, Truemeds aims to triple its fulfilment centres in 12 months while dedicating at least 20% of new capital to engineering and product development.
