E-pharmacy Truemeds raises $85 million in funding led by Accel, Peak XV

E-pharmacy Truemeds raises $85 million in funding led by Accel, Peak XV

Truemeds, a fast-growing Indian e-pharmacy focused on chronic care, has raised $85 million in a Series C round to scale its reach across India’s non-metro markets. The funding was closed in two tranches — the first led by Accel, followed by Peak XV Partners — with continued backing from WestBridge Capital and Info Edge Ventures.

The capital will fund expansion of fulfillment centers beyond metros, bolster engineering and product teams, and establish a new Bengaluru office to leverage India’s tech talent pool. Truemeds also recently launched its iOS app and plans to introduce diagnostic services within the next two to four months.

Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, Truemeds aims to close the affordability gap in chronic care by offering high-quality, clinically equivalent medicine substitutes at 50–70% lower costs. Its proprietary algorithm recommends cost-effective alternatives for long-term conditions like diabetes, hypertension, and cardiovascular disease.

The platform currently serves patients nationwide through a logistics network and engages about 600 doctors daily. With over 3,000 employees, including a 250-strong head office team, Truemeds has registered more than 100% year-on-year growth driven by organic demand.

“Our goal is simple — lowest prices with trusted quality, reaching deeper into India’s underserved non-metro regions,” said Akshat Nayyar, Co-founder and CEO. “This funding strengthens our foundation to make managing chronic illnesses easier and more accessible.”

Accel Partner Abhinav Chaturvedi highlighted India’s chronic care affordability challenges: “Truemeds bridges this gap with a technology-led, clinically guided platform delivering transparency and scale.”

Peak XV’s Sakshi Chopra added, “Their mission to make chronic care affordable in non-metro India is timely and transformative, redefining medicine access through technology.”

Truemeds plans to pilot affordable diagnostics in four cities over the next two quarters, while investing in AI-driven product curation and demand forecasting to enhance supply chain efficiency.