Venture Catalysts, India’s first and largest integrated incubator and accelerator, has recently led a 5 crore investment in Biddano, a tech-enabled B2B healthcare product distribution platform. The pre-Series A funding round also saw participation from other leading early-stage investors such as LetsVenture.
Established in 2016 by Talha Shaikh & Ashok Yadav, Biddano aims to revolutionise offline pharma distribution networks by bridging supply-chain gaps between distributors and chemists through technology. It uses a ‘plug & expand’ model to help distributors seamlessly manage their demand and supply while expanding their geographical reach. The platform further simplifies order management for chemists and hospitals by enabling orders from multiple distributors to be easily consolidated into pharmacy-specific deliveries. Through its state-of-the-art fulfilment infrastructure, Biddano also ensures that pharmacies, chemists, and hospitals, etc. can procure medicines in less than 3 hours of placing an order.
Speaking on the investment, 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 & distributors to create a stronger, robust, and efficient ecosystem for healthcare consumers. The pre-Series A funding from leading early-stage investors such as Venture Catalysts and LetsVenture 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.”
Dr. Apoorva Ranjan Sharma, Co-founder & President – Venture Catalysts, said, “Biddano’s model is unique. Many tech-led pharma start-ups are solving for the online purchase and doorstep delivery of medicines for the end-consumer, whereas Biddano aims to revolutionise the conventional supply chain by addressing the gaps in offline pharma networks. We firmly believe that, with this approach, it is well-poised to capitalise on a massive market opportunity not only in the healthcare space but also other product categories that involve channel sales.”
With its AI-led approach increasing the reach and speed of healthcare delivery for various stakeholders at a very reasonable cost, Biddano aims to become a one-stop solution for all the procurement and fulfilment needs for chemists and hospitals. The platform currently has its eyes set on the Indian pharmaceutical market, worth over $24 billion at present and comprising over 1 million chemists & 65,000 distributors.