Online pharmacy LifCare has raised $11 million in a Series B round led by existing investors SAIF Partners and Nexus Venture Partners. The other participants in the latest funding round include New investor IL&FS Investment Managers.
The Jaipur-headquartered start-up, which is owned and operated by Corner Store Technologies Pvt. Ltd, has so far raised $17 million, including the $5 million in Series A money in October 2016.
“The team (LifCare) has executed brilliantly over the past two years and we expect to see strong growth in the coming years,” said Sandeep Singhal, managing director and co-founder, Nexus Venture Partners.
LifCare, which focuses on chronic medicines, has plans s to utilize the capital to expand its domain to other cities, besides upgrading its technology and data science infrastructure to provide better experience and adding service layers for chronic patients.
“We are now planning to provide end-to-end services in chronic disease management through medical consultancy, lifestyle management and timely reminders, among others,” said LifCare CEO and founder Krishna Killa.