Saveo secures USD four million funding

Bengaluru-headquartered SaveoHealthtech Pvt. Ltd,a B2B e-commerce marketplace forpharmacies, has secured a USD four million seed round co-ledby Matrix Partners India and RTP Global, with participationfrom Incubate Fund and India Quotient.

The company said in a statement on Friday it plans toutilise fresh funding to penetrate deeper into existinggeographies, expand to new territories along with upscalingthe full-stack tech platform.

Saveo is currently serving 2,000-plus pharmaciesacross Bengaluru and 3,000-plus pharmacies across Karnatakaand looking to capture 1,00,000-plus pharmacies across Indiain the next 18 months spread across 100-plus cities in thecountry.

Founded in August 2019 by experienced IIT GraduatesAmit Kumar, Anurag Savarnya, Shivansh Shrivastava and VivekJaiswal, Saveo is a B2B managed marketplace for Indianpharmacies providing a single procurement point for allpossible medicines (allopathy, generics, surgical, ayurvedic,OTC, Specialty), bringing uniformity in service & margin anddigitising them to run, learn and grow their business on theapp, it was stated.