Dec 25, 2014,
BookMeds raises $100,000 in angel funding from a private investor in Singapore
A little less than a year on from its inception, BookMeds announced that it has raised a seed funding of $100,000 USD from a private investor in Singapore.
Founded by Mohammed Abubakr, an ex-Microsoft and a young entrepreneur, BookMeds is an ecommerce portal for medicines and medical products.“BookMeds is revolutionizing the way people take care of their health, the whole experience of standing in a line at a medical shop and getting your order filled by someone who may not have even passed high school is about to change”, says Mr. Abubakr. BookMeds allows you to order medicine and medical products from the convenience of your home. Your order is filled and delivered by a qualified and trained pharmacist to your doorstep within twenty four hours. “To make BookMeds a household name in Hyderabad, we’ve reached out to 3 investors whom we knew were thrilled by the idea, we were very delighted to quickly raise the angel round from Fabella Singapore Pvt Ltd” said Abu.
“Ecommerce in India is growing tremendously, while the generic ecommerce space is already crowded, niche players like BookMeds are very attractive as they can build on the ecommerce habits Indians are developing” said Krish Datta, founder of Fabella. “The impact BookMeds is going to have as it helps the senior citizens and people who need to purchase medicine regularly is phenomenal, now you can expect the ‘care’ in ‘healthcare’” Mr. Datta said. A resident and a Citizen of Singapore, Mr. Datta is the CEO of BackOffice Associates for the Asia Pacific, Japan and the Middle East region, after spending 16 years with SAP, last as the President of SAP South East Asia and Emerging Markets.
The company will use the capital to drive sales and marketing and to take the idea to the masses. The pharmaceutical market in India is the third largest in the world, the ecommerce is an emerging channels for medicine and medical equipment and products. Many companies like HealthKart, MedPlus and Appollo pharmacy are vying for the piece of that pie. BookMeds will make its mark through reliable service, care and customer service.
BookMEDS is an online healthcare company that enables customers to order prescriptive and non-prescriptive medicines as well as surgical & medical products. It delivers the medicines under qualified pharmacist and helps administer the consumptions. Headquartered in Madhapur, BookMeds is focused on the Hyderabad market but plans to expand to other cities across India soon.
About Fabella Singapore Pvt Ltd,.
Fabella Singapore is an investment firm managed by Krish Datta. Fabella aims to help start ups that are in very early stage of incubation, through funding, advisory, market knowledge and ideas. It leverages top quality business leadership and the Singapore infrastructure to help promising start ups grow and expand its markets and reach.