Online health care start-up, BookMEDS has raised USD 100000 in a little less than a year on from its inception from a private Singapore based investor, Fabella Singapore Pvt ltd.
image source: bookmeds.com
“To make BookMeds a household name in Hyderabad, we’ve reached out to 3 investors whom we knew were thrilled by the idea, we were very delighted to quickly raise the angel round from Fabella Singapore Pvt Ltd” said Abu, founder and CEO of BookMEDS.
“Ecommerce in India is growing tremendously, while the generic ecommerce space is already crowded, niche players like BookMeds are very attractive as they can build on the ecommerce habits Indians are developing” said Krish Datta, founder of Fabella. “The impact BookMeds is going to have as it helps the senior citizens and people who need to purchase medicine regularly is phenomenal, now you can expect the ‘care’ in ‘healthcare’” Mr. Datta said. A resident and a Citizen of Singapore, Mr. Datta is the CEO of BackOffice Associates for the Asia Pacific, Japan and the Middle East region, after spending 16 years with SAP, last as the President of SAP South East Asia and Emerging Markets.
BookMEDS will be using the capital to drive sales and marketing and to take the idea to the masses. Right now BookMeds is focused on the Hyderabad market but plans to expand to other cities across India soon.
BookMEDS is an online ecommerce portal for medicine and medical products founded by Mohammed Abubakar. BookMEDS has tie up with local pharmacies, who provides medicines & surgical products. The invoice for the medicine is generated by the local pharmacy in the name of the end user. BookMEDS merely provides assists in the sales of the medicines.
Fabella Singapore is an investment firm managed by Krish Datta. Fabella aims to help start ups that are in very early stage of incubation, through funding, advisory, market knowledge and ideas.