Accel, a global venture firm, is reportedly negotiating a $30 million to $40 million funding round for Truemeds, an Indian online pharmacy dedicated to providing affordable generic medications to customers.
Truemeds is focused on disrupting the supply chain of pharmaceuticals by removing middlemen, thereby lowering costs for patients in need of ongoing medication for chronic conditions.
The proposed funding would apply a valuation of $330 million to Truemeds, which operates entirely online, allowing for digital interactions in consultations, ordering, and delivery to remote areas.
The online pharmacy industry is undergoing significant changes; competitors like Pharmeasy are facing substantial valuation declines, highlighting the financial volatility and challenges in this sector.
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