Mumbai-based e-pharmacy and telehealth platform Truemeds on Monday said it has raised $85 million in its Series C round, completed in two tranches — the first led by Accel and the second by Peak XV Partners — with continued backing from WestBridge Capital and Info Edge Ventures.
The company, which focuses on chronic care medicines, plans to use the fresh capital to triple its national penetration by expanding fulfilment centres in high-demand non-metro markets, bolstering its engineering and product teams, and setting up a new technology hub in Bengaluru.
“Our vision is simple — to bring the lowest prices for medicines in India while ensuring every patient gets the quality they can trust,” said Akshat Nayyar, co-founder and CEO of Truemeds. “With this funding, we’re ready to strengthen our foundation, grow our offerings, and reach deeper into India’s non-metro regions, where access to affordable healthcare can truly change lives.”
Founded in 2019 by Nayyar and Kunal Wani, Truemeds offers clinically equivalent, cost-effective substitutes to branded medicines, helping patients save 50-70% on monthly bills. The platform uses a proprietary recommendation algorithm, backed by medical guidance and pan-India delivery. It claims over 100% year-on-year growth, driven by sustained organic demand, and currently works with around 600 doctors daily.
India’s ageing population is fuelling demand for affordable chronic care. Of the country’s 158 million elderly citizens, 21% live with at least one chronic illness, with prevalence ranging from 17% in rural areas to 29% in urban centres. Truemeds aims to close this affordability gap while ensuring access to essential medicines.
Abhinav Chaturvedi, partner at Accel, said: “India’s healthcare market is undergoing rapid transformation, yet affordability continues to be a major barrier, especially in chronic care. Truemeds is bridging this gap with a clinically guided, technology-led platform that delivers transparency and accessibility at scale.”
