?Aermed to invest on enhancing the existing technology team

Aermed, a pharmacy and lab aggregator, run by HX Wellness Pvt. Ltd, has managed to raise an undisclosed amount of funding by Hitesh Windlass, CEO of Windlas Healthcare.

Aermed is going to use the fund for customer acquisition and ramping up technology team. It is also going to use the money for back-end development by setting up additional hubs for fulfillment and augmenting logistics infrastructure.

The company claims to have enrolled almost 2, 500 customers on subscription and a repeat user of 80 percent.

Naishadh Sutaria, co-founder, Aermed, said, "The market for chronic medicines is USD10 billion and growing at a compound annual rate of 15-17 percent. Online pharmacy, by our estimate, is less than 1 percent of the market in even urban markets, and has tremendous headroom for growth."

As per reports, Netmeds in October received USD50 million (Rs 325 crore) from healthcare-focused global private equity firm OrbiMed, with participation from existing investors MAPE Advisory Group and CEO and founder Pradeep Dadha's family investment fund.

1mg secured funding from Swiss investment firm HBM Healthcare Investments in May this year, in addition to its Series B round from Maverick Capital Ventures and existing investors Sequoia Capital and Omidyar Network. In March, Corner Store Technologies Pvt Ltd, a full-service pharmacy targeting patients with chronic illnesses that operates under the brand LifCare, raised USD1 million (around Rs 6.6 crore) in angel funding led by investor Rajul Garg. Other startups in this segment include Zigy and CareOnGo.