Truemeds Secures $85 Million Series C Funding Led by Accel and Peak XV Partners
- ByStartupStory | August 11, 2025
Mumbai-based e-pharmacy and telehealth platform Truemeds has raised $85 million in a Series C funding round led by Accel and Peak XV Partners, with participation from WestBridge Capital and Info Edge Ventures. The round, completed in two tranches, was first reported by Entrackr last month.
The fresh capital will be directed towards expanding Truemeds’ fulfillment centers in non-metro areas, scaling its engineering and product teams, and setting up a new office in Bengaluru. The company also aims to triple its national penetration.
As part of the growth push, Truemeds has introduced an ESOP buyback program to reward its team members. The platform recently launched its iOS app and is preparing to roll out diagnostic services within the next two to four months, beginning with pilots in four cities. It is also investing in AI and ML-powered tools for product curation, patient journeys, and demand forecasting.
Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds provides clinically equivalent alternatives to branded medicines, offering patients savings of 50–70% on monthly medical costs. Targeting chronic care patients such as those managing diabetes, hypertension, and cardiovascular conditions the company operates a nationwide logistics network, serving all major Indian cities. Truemeds engages with around 600 doctors daily and employs approximately 3,000 staff, including a 250-member head office team.
According to data from TheKredible, Truemeds has raised over $110 million to date. In FY24, the company doubled its revenue to ₹315 crore while narrowing losses by 9% to ₹61 crore.
The company competes with established players in the telehealth and e-pharmacy sector, including PharmEasy, which posted ₹5,664 crore in FY24 revenue, and Tata 1mg, which reported ₹1,964 crore for the same period.
With this latest round, Truemeds is positioning itself for rapid growth, leveraging technology and nationwide reach to tap into India’s expanding healthcare market.
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