Indian e-pharmacy Myra gets funds to expand in new markets
26-Apr-17, ET Healthworld
Despite the online pharmacy market's growth getting stymied because of regulatory hurdles and a bunch of startups like Zigy shutting down, some investors are backing select ventures as they look to disrupt the pharma retailing industry.
Bengaluru-based Myra has roped in Matrix Partners and Times Internet as investors. Together the two investors have put around USD7-8 mn.
%20Myra.jpg "Indian e pharmacy Myra gets funds to expand in new markets (c) Myra")
Image: Myra
With the latest funds in, Myra is planning to enter new metro cities after having been in Bengaluru since inception. "We are looking to start operations in Mumbai, Delhi, Hyderbad, Pune while we deepen our network within Bengaluru," said Faizan Aziz, founder and CEO.
The company is clocking about 1,000 orders per day and plans to grow by three to four times in the next nine months. The company employs, directly and indirectly, about 300 people and plans to take that up to 900 by end of the year.