Rio Health raises Rs 43 crore in pre-Series A funding
Healthtech startup Rio Health, a quick-commerce platform for medicines and healthcare essentials, has raised Rs 43.08 crore in a pre-Series A funding round led by new investor Version One Ventures.
Existing investors Xeed Ventures, Good Capital, and Amplify Partner also participated. The company's board approved the allotment of 7,130 compulsorily convertible preference shares at an issue price of Rs 60,415 per share.
Version One Ventures invested Rs 21.30 crore, Xeed Ventures put in Rs 11.84 crore, Good Capital Fund II contributed Rs 9.47 crore, and Amplify IV PCC added Rs 47 lakh. Entrackr estimates the company's post-money valuation at around Rs 170 crore.
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Founded by Ankur Agrawal and Amit Ahuja, Rio Health is building an AI-powered quick-commerce platform for medicines and healthcare essentials. The platform enables users to order medicines and other healthcare products via WhatsApp, with deliveries in 15–30 minutes.
The fresh capital will be used for general operating and working capital requirements, capital expenditure, strengthening the company's capital base, and expanding its business operations.
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