Truemeds Revenue, Valuation, Funding & Investors
Truemeds is valued at $400M as of August 2025, a 7.3x multiple on its last reported $55M revenue.
Last Truemeds valuation
$400M
Secondary · Aug 2025
Last Truemeds funding round
$20M
Series C · Aug 2025
Truemeds revenue
$55M
Secondary · Aug 2025
Key investors in Truemeds
Info Edge ventures
Westbridge Capital
Accel
Peak XV Partners
IAN Angel Fund
Asha Impact
About Truemeds
Truemeds is a Mumbai-headquartered telehealth platform connecting patients with affordable generic medicines from 50,000-plus pharmacies across India. It uses AI to match prescriptions with substitutes from companies like Sun Pharma and Cipla, backed by clinical outcome data and savings up to 72 percent. The app offers consultations with 2,000 doctors, home delivery in 24-48 hours, and health checkups. Truemeds operates in 1,200 cities including Delhi, Bangalore, and Chennai. Co-founded in 2019, it has served over 5 million consultations and raised $20 million in funding.
Founded
2019
HQ
MumbaiWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales, Subscription
Revenue
$55M (Aug 2025)
Valuation
$400M (Aug 2025)
Truemeds Valuation
Truemeds is currently valued at $400M, based on its secondary sale in August 2025.
The $20M round was led by Accel and Peak XV Partners, with participation from Info Edge ventures and Westbridge Capital.
Truemeds' valuation has grown 1.2x from $340M at its Series C in March 2025 to $400M in August 2025, across 4 priced rounds.
Truemeds valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2025 | Secondary | $400M | 7.3x |
| Aug 2025 | Series C | $400M | 7.3x |
| Jul 2025 | Series C | $400M | 12.1x |
| Mar 2025 | Series C | $340M | 6.2x |
Truemeds Revenue
Truemeds' latest recorded revenue is $55M, as of its secondary sale in August 2025. At a $400M valuation, that implies a 7.3x revenue multiple.
Revenue moved from $55M in March 2025 to $55M in August 2025, while the revenue multiple moved from 6.2x to 7.3x.
Truemeds revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2025 | $55M | $400M | 7.3x | Secondary |
| Aug 2025 | $55M | $400M | 7.3x | Series C |
| Jul 2025 | $33M | $400M | 12.1x | Series C |
| Mar 2025 | $55M | $340M | 6.2x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Truemeds Funding History
Truemeds has raised a total of $112M across 6 funding rounds, plus 1 secondary share sale.
Truemeds' first fundraising round was a $800K seed round in May 2020. The most recent completed round was a $20M Series C in August 2025.
Truemeds funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2025 | Secondary | Accel (lead); Peak XV Partners (lead); Info Edge ventures; Westbridge Capital | $20M | $400M | Truemeds is an online pharmacy and telehealth platform focused on chronic care, offering clinically equivalent medicine substitutes at 50-70% lower costs for conditions like diabetes, hypertension, and cardiovascular disease using a proprietary recommendation algorithm. Founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, the Mumbai-based company, operated by Intellihealth Solutions Pvt. Ltd., raised $85 million in its Series C round in August 2025, comprising $65 million primary capital and $20 million secondary transactions. The round was led by Accel in the first tranche and Peak XV Partners in the second, with participation from existing investors WestBridge Capital and Info Edge Ventures. Post-funding, Truemeds is valued at over $400 million, up from $110 million in its prior round, bringing total funding raised to $135 million. The company closed FY25 with Rs 510 crore in net revenue and processes close to 600,000 monthly orders, reflecting over 100% year-on-year growth. It operates 19 fulfillment centers, plans to expand to 50 within 12 months, engages 600 doctors daily, and employs over 3,000 people. Proceeds will fund nationwide expansion into non-metro regions, addition of fulfillment centers, team growth including engineering and product, a new Bengaluru technology hub, iOS app enhancements, and pilot diagnostic services in four cities. Truemeds aims to triple its national footprint while improving supply chain efficiency through AI-driven curation and forecasting. |
| Aug 2025 | Series C | Accel (lead); Peak XV Partners (lead); Info Edge ventures; Westbridge Capital | $20M | $400M | Truemeds, founded in 2019 by Akshat Nayyar and Dr. Kunal Wani, operates as an online pharmacy and telehealth platform specializing in chronic care management, offering clinically equivalent generic medicine substitutes that save patients 50-70% on costs for conditions like diabetes, hypertension, and cardiovascular disease. The Mumbai-based company uses a proprietary recommendation algorithm, maintains a nationwide logistics network with 19 fulfillment centers (planning to expand to 50), engages 600 doctors daily, employs over 3,000 people, and processes nearly 600,000 monthly orders with more than 100% year-on-year growth. In August 2025, Truemeds closed an $85 million Series C round in two tranches—$44-65 million primary capital led first by Accel and then Peak XV Partners, plus $20 million secondary—with participation from existing investors WestBridge Capital and Info Edge Ventures, bringing total funding to $135 million. The round valued the company at over $400 million, up from $110 million in its prior round and $340 million in one tranche report, representing a 3.6x increase. Funds will expand fulfillment centers into non-metro areas, triple national footprint, bolster engineering and product teams, launch diagnostic services in four pilot cities, open a Bengaluru tech hub, and enhance AI-driven supply chain efficiency. Truemeds closed FY25 with Rs 510 crore in net revenue, demonstrating strong traction in India's transforming healthcare market where affordability remains a barrier in chronic care. The platform recently launched an iOS app and focuses on non-metro penetration to make quality medicines accessible at lowest prices. Previous rounds included $22 million in April 2022 led by WestBridge and $5 million in 2021 led by Info Edge. |
| Jul 2025 | Series C | Peak XV Partners (lead) | $20M | $400M | Truemeds is a Mumbai-based healthtech startup operating as an e-pharmacy platform focused on chronic care, offering clinically equivalent generic medicine substitutes at 50-70% lower costs for conditions like diabetes, hypertension, and cardiovascular disease. The platform uses a proprietary algorithm for recommendations, provides free doctor consultations, and serves patients nationwide through a logistics network, engaging about 600 doctors daily with over 3,000 employees. It recently launched an iOS app and plans diagnostic services. In its ongoing Series C round, Truemeds raised INR 174 Cr (~$20 Mn) from Peak XV Partners via 19,737 Series C2 CCPS, as per MCA filings, with post-money valuation exceeding $400 Mn. This follows an earlier INR 375.2 Cr (~$44 Mn) tranche led by Accel in March 2025 via 49,300 Series C CCPS. The total Series C reached ~$85 Mn ($65 Mn primary, $20 Mn secondary), co-led by Accel and Peak XV, with participation from WestBridge Capital and Info Edge Ventures, boosting valuation from $110 Mn two years prior to over $400 Mn. Funds will advance business operations, expand fulfillment centers beyond metros, grow engineering/product teams, establish a Bengaluru tech hub, triple national presence especially in non-metro areas, invest in AI-driven curation and supply chain, and pilot diagnostics in four cities. Truemeds reports 100%+ YoY growth from organic demand and positive order-level economics. Prior rounds include $22 Mn Series B in April 2022 led by WestBridge Capital and $5 Mn Series A in 2021 from Info Edge Ventures, Asha Impact, and Indian Angel Network. Peak XV's investment aligns with its plans for a $1.2-1.4 Bn independent fund post-Sequoia split. |
| Mar 2025 | Series C | Accel (lead); IE Venture Fund; Info Edge ventures; Westbridge Capital | $44M | $340M | Truemeds is an Indian health-tech startup offering a telehealth platform focused on generic medicines, recommending affordable generic alternatives to branded drugs to help consumers save on costs, particularly for chronic care patients. It serves over 500,000 monthly customers across more than 20,000 postal codes, with 75% from tier-2 cities and beyond, processing around 600,000 monthly orders. The platform operates 19 fulfillment centers, planning to expand to 50 within 12 months, and leverages technology for better demand visibility to pharma manufacturers. In March 2025, Truemeds raised $44 million in a Series C round led by Accel, with participation from investors including IE Venture Fund, Info Edge Ventures, and Westbridge Capital, at a post-money valuation of $340 million. This round aims to accelerate growth, strengthen operations, and expand offerings in India's generic medicine market. Previously, it raised $22 million in Series B in April 2022 led by Westbridge Capital. Total funding raised stands at approximately $71.5-71.75 million. Financially, Truemeds closed FY25 (ending March 2025) with Rs 510 crore in net revenue, reflecting strong growth from Rs 315 crore in FY24. It reports over 66% year-over-year revenue growth to ₹5 billion (about $57 million) in the last financial year, with high customer retention above 50% after 12 months and increasing average discounts from 29% to 32%. The company remains profitable at the order level and has significant prior capital remaining from earlier rounds. Truemeds competes in the e-pharmacy space with players like Tata 1mg (Rs 1,964 crore revenue in FY24) and PharmEasy. It benefits from India's growing healthcare market and government initiatives for affordable generics, positioning for further expansion into vitamins, supplements, and homeopathic medicines amid competition from digital health platforms and government-backed pharmacies. |
| Apr 2022 | Series B | Westbridge Capital (lead); IAN Angel Fund; Info Edge ventures; Asha Impact | $22M | - | Truemeds is an Indian telehealth platform that uses proprietary algorithms to recommend cost-effective generic alternatives to branded medicines. Users upload prescriptions for free e-consultations and orders, with free delivery offered in areas like Maharashtra. The company serves over 500,000 customers and fulfills over 100,000 orders monthly as of the Series B announcement. It addresses the issue of pseudo-categorization of off-patent generic drugs in India, claiming no scientific difference from branded versions. In April 2022, Truemeds raised $22 million in a Series B round led by Westbridge Capital, with participation from existing investors Info Edge Ventures, Asha Impact, and IAN Angel Fund. The funds were intended to accelerate growth in untapped markets, expand coverage across India, and triple fulfillment centers over the next six months. This followed a $5 million Series A round in 2021 from the same early investors. Truemeds competes in India's e-pharmacy space, focusing on generics and telehealth consultations. |
| Jun 2021 | Series A | Asha Impact (lead); IAN Angel Fund (lead); Info Edge ventures (lead) | $5M | - | Truemeds is a Mumbai-based healthtech startup founded in 2019 by Akshat Nayyar and Kunal Wani, operating an e-pharmacy and telehealth platform that recommends value alternative generic medicine brands to patients, targeting India's large chronic patient base. The company secured $5 million in its Series A funding round in June 2021, led by Asha Impact, IAN Angel Fund, and Info Edge Ventures, to enhance the platform and expand its customer base. This followed a $750,000 seed round in May 2020 led by Info Edge Ventures to launch operations. Subsequent rounds included a $22 million Series B in April 2022 led by WestBridge Capital. In a later Series C round, Truemeds raised $85 million led by Accel and Peak XV Partners, with participation from WestBridge Capital and Info Edge Ventures, boosting valuation to over $400 million from $110 million previously and supporting expansion to 50 fulfillment centers, team growth, and a technology hub in Bengaluru. |
| May 2020 | Seed | Info Edge ventures (lead) | $800K | - | - |
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Who has invested in Truemeds?
7 investors have backed Truemeds across its funding rounds, including Info Edge ventures, Westbridge Capital, Accel, Peak XV Partners, IAN Angel Fund and Asha Impact.
Lead investors include Accel, Peak XV Partners, Westbridge Capital, Asha Impact, IAN Angel Fund and 1 other investor.
Truemeds Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Noida | 6 | Lead | May 2020 | |
 Saskatoon | 4 | Lead | Apr 2022 | |
 Palo Alto, CA | 3 | Lead | Mar 2025 | |
| Bangalore | 3 | Lead | Jul 2025 | |
| New Delhi | 2 | Lead | Jun 2021 | |
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Start Free TrialTruemeds Competitors
Truemeds competitors include listed companies like Medley Inc. and Guiyang Longmaster, and private ones like mfine, KAKEHASHI, Healthie and Diverge Health.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Bangalore | Private | - | - | $450M | - | |
 Japan | Publicly listed | $236M | $32M | $459M | 1.8x | |
 China | Publicly listed | $44M | $5M | $482M | - | |
| Tokyo | Private | - | - | $293M | - | |
| New York City, NY | Private | - | - | $273M | - | |
| United States | Private | - | - | $264M | - |
Truemeds Public Comps
Truemeds is still privately-owned, but its public comps include Nanjing Medlander Medical, Dimed SA, Artrya, Simulations Plus, Optima Health, Kneat, Yidu Tech, Lunit, JZJ Chain Drugstore and Beijing Sunwayworld.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $64M | $20M | 4.9x | - | 15.8x | - | |||
| $1.1B | $97M | 0.6x | 0.5x | 6.1x | 8.4x | |||
| $20K | ($19M) | 18657.4x | 440.3x | (19.8x) | (22.4x) | |||
| $79M | ($62M) | 4.1x | 3.9x | (5.2x) | 13.9x | |||
| $162M | $20M | 3.1x | 2.3x | 24.4x | 15.4x | |||
| $46M | $11M | 9.4x | 9.3x | 40.5x | 63.1x | |||
| $122M | ($4M) | 1.4x | 1.2x | (45.0x) | 7.7x | |||
| $61M | ($9M) | 6.6x | 6.4x | (46.1x) | (8.0x) | |||
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Common questions about Truemeds
| When was Truemeds founded? | Truemeds was founded in 2019. |
| Where is Truemeds headquartered? | Truemeds is headquartered in Mumbai, India. |
| Is Truemeds publicly listed? | No, Truemeds is a private, VC-backed company. |
| What is Truemeds' valuation? | Truemeds was last valued at $400M in its secondary sale in August 2025. |
| How much funding has Truemeds raised? | Truemeds has raised $112M across 6 funding rounds. |
| What was Truemeds' last funding round? | Truemeds' last funding round was a $20M Series C in August 2025, led by Accel and Peak XV Partners. |
| Who are Truemeds' investors? | Truemeds' investors include Info Edge ventures, Westbridge Capital, Accel, Peak XV Partners, IAN Angel Fund, Asha Impact and IE Venture Fund. |
| What is Truemeds' revenue? | Truemeds' latest recorded revenue is $55M (August 2025). |
| What is Truemeds' revenue multiple? | Truemeds' latest valuation implies a 7.3x revenue multiple ($400M valuation on $55M of revenue). |
| Which companies are comparable to Truemeds? | Companies comparable to Truemeds include mfine, Medley Inc., Guiyang Longmaster, KAKEHASHI, Healthie and Diverge Health. |
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