Truemeds’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Intellihealth Solutions Private Limited | CIN: U85320MH2019PTC320566
Truemeds, founded by Kunal Wani and Akshat Nayyar, is reshaping India's online pharmacy space by focusing on affordable generic medicines. Since 2019, the company has built a robust supply chain and tech-driven delivery model. With significant investor backing, Truemeds has quickly scaled operations, expanding into major Indian cities and serving millions of customers. Its focus on making essential medicines accessible has made it a standout player in the health-tech sector.
| Detail | Information |
|---|---|
| Founding Year | 2019 |
| Headquarters | Mumbai, India |
| Valuation | ~$250M |
| Total Funding | ~$55M |
| Annual Revenue (FY24) | ₹145 Cr |
| Annual Net Loss (FY24) | ₹70 Cr |
| EBITDA Margin | -22% |
| Employees | ~550 |
| Round | Year | Amount | Investors |
|---|---|---|---|
| Seed | 2020 | $2M | InfoEdge Ventures |
| Series A | 2021 | $20M | Westbridge Capital |
| Series B | 2022 | $33M | Think Investments, others |
Truemeds has demonstrated strong revenue growth over the last three years, with a CAGR exceeding 60%. While losses remain, they are narrowing as the company focuses on optimizing distribution costs and expanding high-margin private label offerings.
The company has made strides in reducing marketing and operational costs, improving EBITDA margins to -22% in FY24. This progress underscores Truemeds’ journey toward sustainable growth.
Employee headcount has grown steadily, reflecting Truemeds’ focus on scaling logistics, supply chain, and technology teams. This investment in people is expected to support future growth initiatives.
| Metric | Detail |
|---|---|
| Revenue Growth | +70% YoY |
| Loss Reduction | Improved by ₹10 Cr YoY |
| EBITDA Margin | Improved to -22% |
| Employee Growth | +130 employees YoY |
| Market Expansion | New cities and deeper reach |
Truemeds is focusing on expanding its service to Tier 2 and Tier 3 cities, enhancing its technology platform, and increasing private label offerings to improve margins. The company is also exploring potential strategic partnerships with hospitals and health networks. While no immediate IPO plans have been announced, strengthening financials could pave the way for a future public listing.
In recent news, Truemeds announced new warehouse expansions in key metro cities to meet rising demand and improve delivery times. The company also raised awareness through health campaigns promoting affordable medicines. This expansion reflects growing investor confidence and an ambitious roadmap for nationwide reach.
Truemeds has carved a unique position by prioritizing affordability and accessibility in healthcare. As it continues to optimize costs and expand its reach, the company is well-positioned to capture a larger share of India's rapidly growing pharmacy market. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.
- Company filings and official website
- Media articles (Economic Times, YourStory, Business Standard)
- Investor press releases
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