Stockholm-based e-pharmacy Meds has bagged €5 million in a funding round led by Inbox Capital. The startup has now achieved a total investment of €10.5 million. The funding will be utilised to scale its capacity and market penetration.
Meds delivers medicines in just two hours
Meds sells prescription and non-prescription drugs, cosmetics and health care products on their ecommerce platform. The startup enjoys the approval from the Swedish Medical Products Agency and maintains promptness in delivery.
Founded in 2017, a major proportion of its customer base is from Stockholm itself. The company is briskly upgrading its logistics to cater customers in Malmö and Gothenburg with swift home delivery. Besides sales, Meds offers advice on prescription drugs by a team of licensed pharmacists and maintains a customer support helpline.
Aspires to rule the pharma e-space in Europe
Meds is focusing on developing more warehouses to create an enhanced supply-chain management system. The startup is shedding all its sweat to prevail the Swedish market. Further, it aims to break into the other European markets as well in the coming years.
CEO of Meds, Björn Thorngren stated, “There is a huge interest in everything within e-health right now. The shift in the pharmacy industry is underway. We are going to bring in millions and become the largest of all online pharmacies. This is just one of many rounds. As Sweden is a leader, we will have a lot to offer when other countries follow suit. We want to become a kind of Uber for health in Europe.”
Stay tuned to Silicon Canals for more updates in the tech startup world.