Saveo gets USD 4 mn funding from Matrix Partners India, RTP Global and others
The seed round saw participation from Incubate Fund and India Quotient, a statement said.
Cred founder Kunal Shah, Bigbasket co-founders VS Sudhakar and Vipul Parekh, Blackbuck founder Rajesh Yabaji, OfBusiness co-founders Asish Mohapatra and Ruchi Kalra, Yulu co-founders Amit, Naveen and RK Misra and others also participated, it added.
Saveo said it plans to utilise the funding to penetrate deeper into existing geographies, expand to new territories along with upscaling the full-stack tech platform.
Founded in August 2019 by Amit Kumar, Anurag Savarnya, Shivansh Shrivastava and Vivek Jaiswal, Saveo provides a single procurement point for medicines (allopathy, generics, surgical, ayurvedic, OTC, specialty), bringing uniformity in service and margin.
Union Budget 2021, which will be presented on February 1. And, the Indian startups hope
Finance Minister Nirmala Sitharaman will provide the necessary boost to the third-largest startup ecosystem.
Key deals
Makers Hive, a Hyderabad-based startup that has developed and built a bionic arm, raised $9 million from Starfish Growth Partners and Investpad.
Reckitt Benckiser led a Rs 45 crore funding round into Bombay Shaving Company. The HNIs who were part of this include Rajesh Sud, Anjali Bansal, and Kuldeep Jain.
Other transactions
Saveo Healthtech, a B2B ecommerce platform for pharmacies, raised $4 million in seed funding co-led by Matrix Partners India and RTP Global, with participation from Incubate Fund and India Quotient.