Plazza in advanced talks to raise $15 million for quicker delivery
Plazza, the Bengaluru startup known for delivering medicines super fast (think 15 to 60 minutes), is in advanced talks to raise around $15 million from big names like Accel, Elevation Capital, and Nexus Venture Partners.
Existing backers are expected to join in too.
The fresh funds will help Plazza open more stores and make its delivery system even quicker.
Plazza plans 20 new outlets
Plazza has already delivered to more than 10,000 customers and offers a huge range of products, more than 20,000 items.
They are planning to launch around 20 new outlets over the next 12 months. After this round, Plazza's valuation could hit around $50 million.
With competition heating up from Swiggy Instamart and Amazon India, Plazza is betting on speed and reliability to stand out in the e-pharmacy race.