Bengaluru-based online pharmacy startup PlatinumRx is in talks to raise about US$32 million in a funding round led by Sofina Ventures. The proposed deal could value the company at between US$150 million and US$200 million. PlatinumRx helps consumers find lower-cost alternatives to prescribed medicines.
Funding history
The startup raised US$6 million in a Series A round in September 2025. Stellaris Venture Partners and India Quotient backed that round. India Quotient also led an earlier Seed round of about US$800,000 in April 2024.
Company context
PlatinumRx was founded in 2023 by Ashutosh Pandey and Piyush Kumar. The company operates an online pharmacy platform based in Bengaluru. It says it has served over 1 million customers to date.
How the platform works
The platform recommends medicines with the same composition as prescribed brands. These substitute medicines are sourced directly from pharmaceutical companies. The model targets customers with recurring and chronic medication needs.
The talks remain ongoing and final terms could change. The company previously outlined plans to add five fulfillment centers after its September 2025 round. If completed, the round would mark a significant increase in its valuation.
Read more: inc42.com