MrMed

Last updated

MrMed
Company type Private
IndustryHealthcare
E-commerce
Founded2020
FounderSaurab Jain
Devashish Singh
Headquarters
Chennai, India
Area served
India
Key people
Devashish Singh (Co-Founder & CEO)
Saurab Jain (Co-Founder & CBO)
RevenueIncrease2.svg₹16 crore (US$1.9 million) (2023) [1]
Number of employees
66

MrMed is an online pharmacy for super-specialty medicines based in India. It was founded by Devashish Singh and Saurab Jain and has its headquarters in Chennai. [2] In 2022, the company received an award from the Government of Tamil Nadu for its contributions to healthcare. [3]

Contents

History

MrMed was conceived in August 2020 when Devashish Singh and Saurab Jain [4] noticed challenges in specialty medicines. [5] Despite facing initial setbacks due to the Covid Delta wave in India, which prompted the founders and their team to prioritize community assistance, MrMed was officially launched in June 2021. [2] The company launched its mobile app in March 2023 for access to speciality medicines for conditions such as cancer, transplants, kidney, or liver diseases. [6] It also raised $500,000 in funding from the Tamil Nadu Emerging Sector Seed Fund (TNESSF) and angel investors. [7] [8] [9]

Operations

MrMed's headquarters are in Chennai, with dispatch hubs located in Delhi and Bangalore. According to the Economic Times, the company reported an Annual Recurring Revenue (ARR) of ₹26 crore. [2] In April 2024, the company entered the offline retail segment with the opening of its first flagship store in Chennai. [10]

Awards and recognition

In 2022, MrMed was awarded the Health Care Start-up Of The Year by the Federation of Indian Chambers of Commerce and Industry (FICCI) in Chennai, presented by Ma. Subramanian, the Minister for Health and Family Welfare, Government of Tamil Nadu. [11] [3]

See also

References

  1. ↑ Borpuzari, Pranbihanga (7 November 2023). "The Economic Times".
  2. 1 2 3 Borpuzari, Pranbihanga (7 November 2023). "Economic times". ISSN   0013-0389 . Retrieved 3 May 2024.
  3. 1 2 "MrMed awarded Start-up of the Year 2022 by FICCI by Mrmed Online Pharmacy - Issuu". issuu.com. 1 December 2022. Retrieved 3 May 2024.
  4. ↑ Koul, Rahul (29 August 2023). ""Problem statement is quite unique in specialized medications"". BioVoiceNews. Retrieved 3 May 2024.
  5. ↑ "MrMed's contribution to drug adherence and patient engagement - Elets eHealth". eHealth Magazine. 30 May 2023. Retrieved 3 May 2024.
  6. ↑ "MrMed launches mobile app for access to affordable super-specialty medicines". The Economic Times. 29 March 2023. ISSN   0013-0389 . Retrieved 10 September 2024.
  7. ↑ Kandavel, Sangeetha (30 August 2023). "Online pharmacy MrMed raises $500,000 from Tamil Nadu Emerging Sector Seed Fund". The Hindu. ISSN   0971-751X . Retrieved 3 May 2024.
  8. ↑ "MrMed raises $500k from TNESSF". The Times of India. 31 August 2023. ISSN   0971-8257 . Retrieved 3 May 2024.
  9. ↑ "Specialty pharmacy MrMed raises $500,000 from Tamil Nadu Emerging Sector Seed Fund". The Economic Times. 30 August 2023. ISSN   0013-0389 . Retrieved 3 May 2024.
  10. ↑ "MrMed ventures into physical retail space with launch of store in Chennai". The Economic Times. 25 April 2024. ISSN   0013-0389 . Retrieved 8 April 2025.
  11. ↑ "medgatetoday" . Retrieved 3 May 2024.
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