PlatinumRx Raises $6 Million Series A to Expand Affordable Online Pharmacy and Tele-Consultation Services
PlatinumRx, a Bengaluru-based online pharmacy and tele-consultation platform, has raised $6 million in a Series A funding round led by Stellaris Venture Partners, with participation from existing investor India Quotient.
Founded in 2023 by Ashutosh Pandey and Piyush Kumar, the company aims to make quality medicines more affordable by providing substitutes that match top-branded drugs in salt composition, strength, and effectiveness.
By sourcing directly from large pharmaceutical companies, PlatinumRx offers customers savings of 50–60% on their medication costs.
The fresh capital will be utilized to scale operations, add new fulfillment centers, and expand the product and technology teams. The company plans to open at least five additional fulfillment centers, enhancing its ability to serve a broader customer base.
Additionally, PlatinumRx intends to invest in AI-driven personalization to improve the customer experience and strengthen its supply chain. The platform currently serves over 200,000 patients across 20,000 pincodes, with plans to reach 1 million customers within the next 12–18 months.
PlatinumRx’s model addresses the heavy out-of-pocket burden many chronic patients face in India. By offering affordable alternatives to branded medicines, the company aims to reduce the financial strain on patients requiring long-term medication. The platform’s commitment to quality is evident through its four-layer quality check and flexible return policy.
The involvement of Stellaris Venture Partners and India Quotient provides strategic value beyond capital. Stellaris brings access to a network of large enterprises, while India Quotient offers experience in scaling startups in India. This partnership positions PlatinumRx to address the rising demand for affordable healthcare solutions in the country.
Looking ahead, PlatinumRx plans to expand its product portfolio, deepen partnerships across healthcare providers and distribution networks, and broaden its reach to underserved areas. The company intends to leverage its latest funding round to move from early enterprise deployments into broad commercial adoption and establish itself as a leading provider of affordable medicines in India.
PlatinumRx’s $6 million Series A funding round, led by Stellaris Venture Partners and supported by India Quotient, marks a significant milestone in its journey to scale affordable and accessible healthcare solutions. The fresh capital, combined with the company’s commitment to quality and customer-centric approach, positions PlatinumRx for growth in the competitive Indian healthcare market.
