Mumbai-based B2B pharma distribution startup Fundly.ai has secured $4 million in pre-Series A funding co-led by Accel and Multiply Ventures. The round also includes former RBL Bank executive director Rajeev Ahuja and undisclosed angel investors. With an additional $900,000 in venture debt from Alteria Capital, total funding now exceeds $7 million.
Capital Deployment and Immediate Priorities
The company intends to deepen its footprint in existing markets before entering new cities. It will expand transaction and SaaS infrastructure beyond its Pune pilot, which currently covers about 3,000 retailers and multiple distributors. Fundly.ai also plans to bring more distributors onto its platform while introducing programmes that give pharmaceutical companies distribution-level insights.
Fundly.ai is building payment and settlement infrastructure that integrates directly with distributors' ERP systems and manages payment cycles. The startup will use the fresh equity and venture debt to scale its digital commerce, payments, and credit offerings across the pharmaceutical supply chain. An intelligence layer over the resulting data is also planned to improve demand forecasting and credit underwriting.
Founder Perspective and Platform Evolution
Founder and CEO Amit Chawla said India's medicine distribution runs on WhatsApp, phone calls and paper ledgers, leaving critical processes disconnected. He explained that Fundly.ai is building the coordination layer where ordering, payments and credit finally talk to each other. Founded in 2021 by Chawla and Shreeram Ramanathan, the startup began as a lender to pharmaceutical supply chain businesses and has since evolved into a broader B2B distribution platform.
The startup's B2B ecommerce platform, FundlyMart, allows retailers and distributors to discover and order medicines with credit embedded directly into checkout. Its lending decisions rely on commerce and payment data generated through the platform rather than conventional financial statements alone. Fundly.ai reports serving more than 4,100 retailers across over 24 cities and more than 600 pin codes.
Market Context and Competitive Landscape
India's pharmaceutical distribution and logistics market is valued at $19.35 billion in 2026 and is projected to reach $25.35 billion by 2031, growing at a compound annual growth rate of 5.55 percent. Much of the trade still operates through phone calls, WhatsApp and traditional ledgers for ordering, payments and credit. This fragmented operating environment creates a significant opportunity for technology-led platforms to reduce inefficiencies.
Several startups are working to modernise different parts of the pharmaceutical distribution value chain. SwishX is using artificial intelligence to automate back-office sales and distribution workflows for pharma companies, while Zeelab is building an affordable pharmacy network. Healthcare supply chain startup DocPharma recently raised $2 million to expand its distribution network and dark-store infrastructure.
Investor Confidence and Financial Foundation
The latest round builds on Fundly.ai's $3 million seed funding raised in 2023, which was led by Accel with participation from Multiply Ventures and angel investors. Continued support from Accel and Multiply Ventures signals investor confidence in the company's strategy and management team. The additional venture debt from Alteria Capital provides further liquidity without excessive equity dilution.
With $4 million in fresh equity and about $0.9 million in venture debt, Fundly.ai is positioned to strengthen its digital commerce, payment infrastructure and embedded credit capabilities across India's pharmaceutical supply chain. The company aims to improve retailer and distributor density in existing markets before pursuing broader geographic expansion. The investment reflects growing momentum behind technology platforms that modernise one of India's largest and most fragmented distribution networks.