the fastest delivery for that matter.”
Next up: AI-powered customization and doorstep diagnostics
As Truemeds needs to convince customers to choose generics over branded medicines, it goes through deeper consultations with them. It already conducts 10-12 million consultations per year. The startup has developed an algorithm over the years that looks at various parameters to precisely suggest alternatives to the branded drugs a customer demands. It considers nuances such as whether the medicine is sugar-coated if it is for a young patient, where it is manufactured, and whether the plant is GMP-certified, among others. The startup also has a chatbot to address some user queries quickly.
Much more is on the roadmap. The company plans to develop an AI-based system that customizes conversations based on customers’ behavior and previous interactions with generic alternatives. It’s also opening a Bengaluru office while dedicating at least 20% of its capital to engineering and product development.
Beyond medicines, Truemeds is plotting to enter diagnostics through partnerships with national pathology labs, planning to pilot lab testing services in some tier-2 cities in the next three to four months.
“The primary mission remains the same, which is making healthcare affordable for the end user,” the co-founder said. “It started with medicines. Now that the model is getting established, we are going to keep scaling that. Simultaneously, we also want to see if we can do something similar on the diagnostics front, where we can be the lowest cost provider of at least the most common tests.”
The startup also plans to increase its fulfillment center count by 300% — from 19 currently — over the next 12 months, aiming to deepen its presence in existing markets.
Before this round, Truemeds raised $50 million and still has 30-35% of that capital in the bank, Nayyar said.
The startup has a workforce of 2,800 people, with 250 based in its Mumbai office.
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