DrStore gets pre-series A funding from Equanimity Venture
DrStore, Mumbai based Healthcare Service and Technology Company has raised undisclosed amount of funds in a pre-series A funding round from Equanimity Venture
Sukhendu Patnaik, Co-founder & ED & Neeraj Katare, Co-founder & CEO, Dr. Store
DrStore is India's first & only Group Purchase Organisation (GPO) for clinics, small to medium size nursing homes & hospitals. The powerful combination of product & services offered by DrStore GPO allows the small & mid-size practices to exercise the purchasing power of a large organisation while maintaining their independence. The core objective is to enable healthcare service providers manage their complex supply chain cost-effectively and adopt state of the art technology to further enhance practice. DrStore has grown quite significantly and created a niche for itself in the market. The business is growing at a rapid pace.
The CEO and founder of DrStore, Neeraj Katare, who comes from a background of TCS, Piramal, PWC says “ this fresh round of funding will enable DrStore to expand its business operations across geographies. A substantial part of this investment will go for proprietary technology development. Our model serves critical unmet needs in the healthcare segment, the technology driven Group Purchase platform will enable sourcing of quality products with transparent pricing. The state of the art technology will help us penetrate to small towns and rural India”.
Sukhendu Patnaik, Co-founder believes that this fund infusion will enable the company to hire the right talent and physical infrastructure. The company plans to scale up multi-folds from the current stage within coming 12-24 months and to become the largest healthcare institutional buyer in India.
“DrStore brings the purchasing power of large organisations to small and mid-sized hospitals using deep technology and industry expertise. This is changing the industry landscape by bringing in procurement efficiencies, reducing costs and helping local hospitals have a wider and deeper impact,” Rajesh Sehgal, managing partner at Equanimity, said in the statement.