Matrix Partners India and Times Internet have led a series A round of investment in Myra, a startup which allows people to buy medicine online. The company had earlier raised an undisclosed seed round of funding led by Matrix Partners as well and also included Pranay Chulet, co-founder & CEO of Quikr, Prashant Malik, co-founder & CTO of LimeRoad, Vamsi Duvvuri, Associate Director of Vy Capital and Pankaj Gupta, Ex Director-Product of Twitter. The company will use the new funds to accelerate product development, expand operations to other cities, and hire new talent across engineering, data science and operations. Myra is available only in 3 kms of Malleshwaram, Lingarajapuram and Richmond town neighbourhoods of Bangalore. The company says that will assure customers a flat 20% off on MRP of any medicine that they order (with no upper limits). Myra says that it is redesigning the pharmaceutical supply chain to remove layers of middlemen to offer discounts. Unlike companies such as 1mg and Netmeds which aggregates medical shops in a neighbourhood and act as a marketplace, Myra buys medicines directly from manufacturers, stores and delivers the medicines from its warehouses located across the city. "This ensures better control on operations, superior margins and most importantly a smooth customer experience," the company added in a statement. Myra's terms and conditions say that its "App is a technology platform that will allow you to access pharmacists who will be able to fulfil your order." It adds that no sale of medicines is conducted on…
