Bengaluru online pharmacy startup PlatinumRx in talks to raise around $32 Mn led by Sofina

Bengaluru-based online pharmacy startup PlatinumRx is in talks to raise around $32 Mn (over ₹300 Cr) in a round led by Belgium-based investor Sofina Ventures, Inc42 reported, citing sources familiar with the discussion.

The talks are ongoing, and the final terms, including valuation and investor participation, could change. The deal is expected to value the company at $150-200 Mn (₹1,400-1,878 Cr).

Stellaris Venture Partners and India Quotient invested in its $6 Mn Series A in September 2025. India Quotient also led an earlier seed round of about $800K in April 2024.

PlatinumRx was founded in 2023 by Ashutosh Pandey and Piyush Kumar. Its online pharmacy helps consumers find affordable alternatives to prescribed medicines.

The platform recommends substitutes with the same composition, giving customers lower-cost options, particularly for recurring and chronic prescriptions.

The medicines are sourced directly from pharmaceutical companies. The company says it has served over 10 lakh customers.

If concluded, the round would mark a significant jump in PlatinumRx’s valuation. The September 2025 round went towards its supply chain, fulfilment capacity and product and technology teams, with plans for five more fulfilment centres.

Quick commerce platforms are expanding into medicine delivery, while online pharmacies are building models around affordability, range and access.

Plazza, a Bengaluru-based quick medicine delivery startup, raised $15 Mn in a Series A in July 2026, co-led by Accel, Elevation Capital and Nexus Venture Partners. Truemeds raised $85 Mn last year to scale generic medicine delivery.