Company Name : CareOnGo
Funding Amount : Undisclosed
Investor(s) Farooq Oomerbhoy
Funding Round : Pre-Series A
CareOnGo , mobile chain of co-branded pharmacy stores has raised an undisclosed amount in Pre-series A led by Farooq Oomerbhoy of FAO Ventures and a consortium of investors, which includes Anupam Mittal and Anand Mittal of People Group; Ravi Garikipati, Head of Flipkart’s ads business; Vibhu Garg, Co-Founder of Unicommerce; Singapore Angel Network and Konglo Ventures among others.
The round also saw participation from US, Singapore and Muscat-based investors.
Founded by IIT-IIM alumni, Aditya Kandoi, Ritu Singh and Yogesh Agarwal, CareOnGo has built a co-branded network of micro-pharmacies across 8 cities in India.
Farooq Oomerbhoy added, “It is encouraging to see the support and confidence some of the leading investors have shown in CareOnGo by participating in their Pre-Series A round. CareOnGo, thanks to it’s highly dedicated founding team, has grown at a tremendous pace and is being recognised as an integral platform by its partner/co-branded Pharmacies. CareOnGo has delivered tremendous value to each of its partner pharmacies by growing their topline by 20-30%. Bringing about a seamless integration for the micro-pharmacies from procurement to sale of medicines with an added layer of deep analytics, CareOnGo aims to disrupt the pharmaceutical sales chain.”
The company is providing POS solution to these pharmacies to streamline the payment process, both online and offline. Their ERP solution is linked to the inventory of the pharmacy, enabling real-time availability of medicines and OTC products.
The ERP solution uses the localized demand analytics data helping them in predictive inventory management for greater savings and better stock management.
Yogesh Agarwal, Co-Founder, CareOnGo said, ”The funds raised will be invested in research and further development of our technology offerings, with special focus on analytics product. We will further expand our B2B offerings deeper into the pharmacies by providing seamless analytics, advance POS solutions and aggregating micro-pharmacies in India under a single umbrella of co-branding.”