Bengaluru-based online pharmacy platform PlatinumRx has raised $6 million in a Series A funding round led by Stellaris Venture Partners, with participation from existing investor India Quotient.
This follows its earlier $800K fundraise.
The fresh capital will be deployed to scale operations, expand fulfilment centres, and strengthen product and tech teams, the company said in a press release.
The move is aimed at deepening its reach and improving service efficiency for patients across India.
Founded in 2023 by Ashutosh Pandey and Piyush Kumar, PlatinumRx operates as an online pharmacy and tele-consultation platform, offering substitute medicines with the same salt, strength, and effectiveness as top-branded drugs.
The startup’s mission is to make quality pharmaceuticals more affordable and accessible, addressing India’s high out-of-pocket medicine costs.
PlatinumRx currently operates two fulfilment centres in Bengaluru and Delhi and plans to add five more within the next 12–18 months. Its services include a 4-layer quality check, flexible return policies, and delivery timelines of one day in metros and three to five days in non-metro cities.
Since launch, the company claims to have served over 200,000 patients across 20,000 pincodes, helping users save up to 50–60% on chronic medications, vitamins, and supplements. Demand is largely concentrated in Uttar Pradesh, Maharashtra, Delhi, Karnataka, and West Bengal, accounting for 60% of its customer base.
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PlatinumRx competes with major players such as Tata 1mg, PharmEasy, Netmeds, and Apollo, but differentiates itself by focusing exclusively on generic substitutes for chronic care patients rather than offering a broad catalogue.
For Stellaris Venture Partners, which manages over $600 million across three funds and has previously backed brands like Mamaearth and fintech player Kiwi, PlatinumRx represents a bet on both healthcare affordability and distribution efficiency.