An IIMU alumnus, Ms.Ritu Singh, co-founder of CareOnGo, secured $300,000 from a consortium of investors recently led by Farooq Oomar Bhoy, who was one of the co-founders of the early stage fund – Orios Venture Partners.
Raj Mishra of Indea Capital and Vineet Ganesh of Imperial India Investment also participated in the round. It is being used the capital for product development and expansion.
Ms. Ritu who pursued her PGP program at IIMU in the batch of 2012-14 co-founded this company in August 2015 with Mr. Aditya Kandoi and Mr. Yogesh Agarwal.
It allows users to buy medicines from approved pharmacies in their neighborhood. It is a one-stop destination for all your Medicine needs. It helps the user to order and understand medication, find substitutes, get diet chart, maintain health records, and help them take their medicine on time and safely. The startup connects the entire pharmaceutical supply chain through technology ensuring authenticity and ease of availability of medicines and in the process assists the local entrepreneurs to grow by increasing their reach and business.
Commenting on the challenges faced by the venture, the startup mentioned, “Many government regulations around Medicines have not been clearly defined creating its own set of challenges into the Industry. We refrain from going into any of such vicinities to keep ourselves in the green zone. However this restricts us from doing a lot more for our partner pharmacies than we actually do.”
IIM Udaipur fraternity wishes great success to the founders and the company for their future endeavors.
?Source – Jay Kumar Savita, City Journalist, Udaipur, Collegedekho.com