The brainchild of two 28-year-olds from Mumbai, PharmEasy has emerged as a leader in the online pharmacy space in less than two years since its launch: The online aggregator of pharmacies supplies medicines to customers at a flat 20 percent discount. It currently fulfils 80,000 orders a month, across seven cities, and has 1 lakh customers using its app-based service.
PharmEasy - About And How It Works? Pharmacy is an e-commerce platform for the purchase of medicines and other healthcare-related equipment. You upload a prescription on PharmEasy which is then sent to a drugstore in your vicinity. The company uses a mobile app and web technology to offer the best-quality health care products to customers at affordable rates.
You might be thinking, "Ah! discounted products, they would be of cheap quality for sure." But no, discount has nothing to do with compromise in quality. Pharmacy provides you with the top-notch products that you generally find in reputed pharmacies and medical stores.
Once PharmEasy sends your medical prescription to the drugstore, a delivery agent collects the medicines from the drugstore while adhering to all sorts of precautions and guidelines. Your order is then packaged and is delivered to your doorstep. Visit PharmEasy's website to comprehend the company's liabilities.
Dhaval Shah and Saumil Parekh are the two key executives at the company. The team behind PharmEasy has set its sight on becoming India's best health care delivery venture. The focus at the moment is digization to the maximum possible extent. PharmEasy is a private company that is adding new employees to its taskforce every other day.
PharmEasy - Startup Story :
Dharmil Sheth, the founder of PharmEasy, and his doctor pal Dhawal Shah came up with the idea of building an online pharmacy. And this is how PharmEasy came into existence in the year 2014. Presently, the company delivers to nearly 98% of the Indian pin codes.
The company wanted to achieve the mission of doorstep delivery of everything related to healthcare. And it has now successfully accomplished this objective. Digitization has become an integral component of India's healthcare industry. Be it scheduling a doctor's appointment or delivery of reports and medicines, every step in the industry has been digitized. And a major chunk of the credit goes to e-pharmacies like PharmEasy. The "health commerce industry" in India is growing at unprecedented rates courtesy of these e-pharmacies.
PharmEasy - Business Model:
PharmEasy delivers medicines and other medical accessories across Indian towns and cities. It is like Grofers for medicine. The pin codes maintained by PharmEasy are used to identify pharmacies closest to the customers. Customers can either access PharmEasy's website or use its mobile app to order items. They are entitled to discounts of up to 20% if they order using the mobile app.
Due to various rules and regulations set by the Indian government, the company doesn't deliver Schedule H drugs. Why do people abstain from e-pharmacies? They aren't sure of where the medicines come from. PharmEasy is dispelling this notion for good.
PharmEasy - Revenue/Turnover:
PharmEasy nearly doubled its revenue in FY20 to Rs 637 crore.
PharmEasy's losses before tax for the period is around Rs 100.7 crore