Pharmacy Stores CareOnGo Destination For All Your Medicine Needs
The healthcare industry in India is fragmented and multi faceted making it difficult for consumers to connect with the right solution due to multiple touch points. The same challenges are faced by local pharmacies as well. By aggregating the players in the entire supply chain, CareOnGo wants to streamline both the customer and retailer pain points and help bridge the gap.
The venture has been started in August 2015 by IIT-IIM alumni – Aditya Kandoi, Ritu Singh and Yogesh Agarwal, with all three coming with a healthcare experience. New Delhi-based CareOnGo is Indian chain of Co-branded Pharmacy stores for delivery of Medicines, Generics, Babycare, Womencare, Petcare, Ayurvedic and general health products, with the trust of your neighbourhood pre-approved pharmacy. The startup is currently operational in 8 cities in India – Delhi, Noida, Gurgaon, Faridabad, Ghaziabad, Bangalore, Hyderabad and Kolkata. With a network of over 700 pharmacies, users can also choose from a wide range of healthcare products and discounted offers on a single platform.
It is a one stop destination for all your Medicine needs. It helps user to order and understand medication, find substitutes, get diet chart, maintain health records, and help them take their medicine on time and safely. The startup connects the entire pharmaceutical supply chain through technology ensuring authenticity and ease of availability of medicines and in the process assists the local entrepreneurs to grow by increasing their reach and business.
CareOnGo’s prime focus is on B2B services – with a vision of solving consumer’s problem. It help local retailers procure products from manufacturers and stockists on the basis of predictive analytics by studying the purchase patterns and supply drivers.
Talking about their competitors, the startup told iamwire, “As such, we have no direct competition as we are India’s first e-Distributor managing the procurement through technology. We are the only players aggregating the local pharmacies under a branded umbrella of CareOnGo, thus bringing in efficiency and standardization in the process.”
Last month, the company secured $300,000 in its seed round of funding from a consortium of investors led by Farooq Oomerbhoy, who was one of the co-founders of the early stage fund – Orios Venture Partners. Raj Mishra of Indea Capital and Vineet Ganesh of Imperial India Investment also participated in the round. It is being using the capital for product development and expansion.
Its app is available for Android users and has more than 60,000 downloads so far. Going forward, CareOnGo’s plans to expand to 15 more cities by the year-end. Also, it is inline to launch 18 new categories into its consumer-focused app.The startup estimates that currently there are 800,000 chemists in India handling the total market of $29.5 billion.
Commenting on the challenges face by the venture, the startup mentioned, “Many government regulations around Medicines have not been clearly defined creating its own set of challenges into the Industry. We refrain from going into any of such vicinities to keep ourselves in green zone. However this restricts us from doing a lot more for our partner pharmacies than we actually do.”