Pune-based tech-enabled B2B healthcare product distribution platform Biddano raised Rs 5 Cr from Startup incubator and accelerator Venture Catalysts. The pre-Series A funding round also saw participation from other early-stage investors including LetsVenture.
Biddano was founded in 2016 by Talha Shaikh and Ashok Yadav. It aims to revolutionise offline pharma distribution networks by bridging supply-chain gaps between distributors and chemists through technology. It uses a ‘plug and expand’ model to help distributors manage their demand and supply while expanding their geographical reach. The platform currently has its eyes set on the Indian pharmaceutical market, worth over $24 billion at present, and comprising over one million chemists and 65,000 distributors.
Apoorva Ranjan Sharma, Co-founder and President, Venture Catalysts said, “Biddano’s model is unique. Many tech-led pharma startups are solving for the online purchase and doorstep delivery of medicines for the end-consumer, whereas Biddano aims to revolutionize the conventional supply chain by addressing the gaps in offline pharma networks.”
Talha Shaikh, Co-founder, Biddano said, “Our mission is to solve the problem of availability of medicine by organizing the healthcare supply chain. We are empowering pharmacies and distributors to create a stronger, robust, and efficient ecosystem for healthcare consumers. The pre-Series A funding serves to reaffirm our faith in our business model and motivates us to continue building on this tech-led disruption that we have created in the Indian pharmaceutical space.”
With the help of the recent funding, Biddano aims to revolutionize offline pharma distribution networks by bridging supply-chain gaps between distributors and chemists through technology.