Truemeds raises $85 million to boost access to affordable medicines
Truemeds, a telehealth startup, just raised $85 million from Accel, Peak XV Partners, and others—pushing its valuation over $400 million (up from $110 million two years ago).
The cash boost includes both new and existing investors.
The startup's mission is to make healthcare more affordable
Launched in 2019, Truemeds helps people save on prescriptions by recommending generic alternatives instead of pricey branded meds.
Their tech-driven approach means users save an average of 47%, with discounts getting better each year.
Next up: tripling their fulfillment centers and opening a new tech hub in Bengaluru.
Truemeds' revenue and future plans
Truemeds hit ₹5 billion (~$57 million) in revenue for FY2024—a 66% jump from last year.
They serve about 500,000 customers monthly across more than 20,000 pin codes and are gearing up to grow fast in smaller cities with more fulfillment centers soon.