Bengaluru-based quick medicine delivery platform Plazza is in talks to raise around $6 million in a fresh round of funding, sources aware of the matter told Inc42. The round is likely to be led by Z47 Partners, with existing investors All In Capital and Better Capital also participating.
Details
Plazza plans to use the fresh capital to expand its operations and set up more dark stores in Bengaluru. The startup is operational in a few localities in the city. This funding round comes almost six months after Plazza raised $1.2 million from All In Capital and Better Capital.
Company Context
Founded in 2024 by ex-Zomato executive Aman Priyadarshi and Kenko founder Aniruddha Sen, Plazza claims to deliver medicines within 60 minutes in select pincodes of Bengaluru. The startup initially partnered with seven licensed pharmacies and later launched a Lifestore in Yemalur to maximize sales and optimize inventory management. Plazza claims to have over 20,000 SKUs, including medicines and monitoring devices, which it delivers 24/7.
Industry Context
Plazza competes with the likes of Tata 1mg, Apollo Pharmacy, and others in the quick commerce industry. The Indian quick commerce market is poised to grow from $6.1 billion in 2024 to $40 billion by 2030, clocking a CAGR of 37%. The sector is expanding at nearly twice the 19% growth rate of the overall e-commerce market.
If you are exploring product design and development for hardware startups, BangDesign has relevant experience — get in touch.
Source: Inc42