MrMed is an online pharmacy for super-specialty medicines based in India. It was founded by Devashish Singh and Saurab Jain and has its headquarters in Chennai.[2] In 2022, the company received an award from the Government of Tamil Nadu for its contributions to healthcare.[3]

MrMed
Company typePrivate
IndustryHealthcare
E-commerce
Founded2020
FounderSaurab Jain
Devashish Singh
Headquarters
Area served
India
Key people
Devashish Singh (Co-Founder & CEO)
Saurab Jain (Co-Founder & CBO)
RevenueIncrease 16 crore (US$1.9 million) (2023)[1]
Number of employees
66

History

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MrMed was conceived in August 2020 when Devashish Singh and Saurab Jain[4] noticed challenges in specialty medicines.[5] Despite facing initial setbacks due to the Covid Delta wave in India, which prompted the founders and their team to prioritize community assistance, MrMed was officially launched in June 2021.[2] The company launched its mobile app in March 2023 for access to speciality medicines for conditions such as cancer, transplants, kidney, or liver diseases.[6] It also raised $500,000 in funding from the Tamil Nadu Emerging Sector Seed Fund (TNESSF) and angel investors.[7][8][9]

In 2024, the company expanded its operations by opening a retail store in Chennai through a partnership with BDK Pharma.[10]

Operations

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MrMed's headquarters are in Chennai, with dispatch hubs located in Delhi and Bangalore. According to the Economic Times, the company reported an Annual Recurring Revenue (ARR) of ₹26 crore.[2]

Awards and recognition

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In 2022, MrMed was awarded the Health Care Start-up Of The Year by the Federation of Indian Chambers of Commerce and Industry (FICCI) in Chennai, presented by Ma. Subramanian, the Minister for Health and Family Welfare, Government of Tamil Nadu.[11][3]

See also

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References

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  1. ^ Borpuzari, Pranbihanga (7 November 2023). "The Economic Times".
  2. ^ a b c Borpuzari, Pranbihanga (2023-11-07). "Economic times". ISSN 0013-0389. Retrieved 2024-05-03.
  3. ^ a b "MrMed awarded Start-up of the Year 2022 by FICCI by Mrmed Online Pharmacy - Issuu". issuu.com. 2022-12-01. Retrieved 2024-05-03.
  4. ^ Koul, Rahul (2023-08-29). ""Problem statement is quite unique in specialized medications"". BioVoiceNews. Retrieved 2024-05-03.
  5. ^ "MrMed's contribution to drug adherence and patient engagement - Elets eHealth". eHealth Magazine. 2023-05-30. Retrieved 2024-05-03.
  6. ^ "MrMed launches mobile app for access to affordable super-specialty medicines". The Economic Times. 2023-03-29. ISSN 0013-0389. Retrieved 2024-09-10.
  7. ^ Kandavel, Sangeetha (2023-08-30). "Online pharmacy MrMed raises $500,000 from Tamil Nadu Emerging Sector Seed Fund". The Hindu. ISSN 0971-751X. Retrieved 2024-05-03.
  8. ^ "MrMed raises $500k from TNESSF". The Times of India. 2023-08-31. ISSN 0971-8257. Retrieved 2024-05-03.
  9. ^ "Specialty pharmacy MrMed raises $500,000 from Tamil Nadu Emerging Sector Seed Fund". The Economic Times. 2023-08-30. ISSN 0013-0389. Retrieved 2024-05-03.
  10. ^ "MrMed ventures into physical retail space with launch of store in Chennai". The Economic Times. 2024-04-25. ISSN 0013-0389. Retrieved 2024-05-03.
  11. ^ "medgatetoday". Retrieved 2024-05-03.
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