Lab aggregator Aermed raises seed funding

Lab aggregator Aermed has raised an undisclosed amount of seed funding in a round led by Hitesh Windlass, CEO of Windlas Healthcare. Other investors include angels working at a Boston-based Private equity firm and a New York-based global Investment bank.

Founded by IIT Alumnus – Naishadh Sutaria and Aayush Jindal along with Nandit Pathak and Ashish Prakash, the startup has so far enrolled about 2,500 customers on subscription and has maintained 80%+ repeat-use rates. Aermed helps customers store and track their medical records in a user-friendly application helping make prescription compliance very convenient.

“Our customers value our guaranteed 24-hour delivery, prompt & reliable service and the best-in-class savings we provide. We have also built an automated & scalable supply chain network which includes real-time inventory sharing with our suppliers and enables us to reach a 100% fulfillment rate of orders,” said Naishadh Sutaria, Co-Founder of Aermed.

“We have achieved Product market fit and by reaching our chronic customers where they are most comfortable we are able to cater to them effectively. The Chronic medicines market is a $10 billion market and growing at a CAGR of 15 – 17%. Online pharmacy, by our estimate, is less than 1% of the market in even urban markets, and has tremendous headroom for growth” said Sutaria.