Netmeds, a Dadha Group-promoted online pharmacy, has acquired Delhi based Pluss, for an undisclosed amount, reports VCCircle. Pluss is an app used by customers for ordering and delivery of medicines and other health related products. Last month, Economic Times had reported that the companies were in talks for an acquisition. Pluss will be merged into Netmeds.
Currently, the Pluss website is not functional, and the Android app says that Pluss is now the Netmeds app. Netmeds claims to have 1 million users from 700 cities and that 65% of its business comes from Tier II and III cities.
Pluss was founded by Atit Jain, Madhulika Pandey and Tarun Lawadia in 2015 and had raised $1 million in pre-Series A funding from IDG Venture, M&S Partners and Powerhouse Ventures last November. It is unclear if Pluss’ entire team is joining Netmeds. With the acquisition, Netmeds will have 450 employees.
Last October, Netmeds raised $50 million in a funding round led by OrbiMed, with participation from MAPE Advisory Group and founder & CEO Pradeep Dadha’s family investment fund. It planned to use $10 million to develop its back-end infrastructure and logistics and the rest to increase the consumer awareness. The company was started last June and offers a selection of both prescription & non-prescription drugs, personal care, wellness and household products. At that time, it claimed to supply over 50,000 SKUs across India from its Chennai warehouse.
Netmeds primarily competes with Healthkart and 1mg. This August, Healthkart raised fresh funding to invest in assistance, content areas, categories in nutrition and expand in the offline space. In July, 1mg (previously known as HealthkartPlus) acquired Medd.in, a platform which allowed users to book diagnostic imaging tests, for an undisclosed amount. In April, 1mg raised $15 million and an additional funding from multiple investors.
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