From on-demand delivery of prescriptions to virtual pharmacists, startups are transforming the distribution of medicine to those who need it.
Today, startups are changing the distribution patterns for everything we consume, from food to media, and now they’re doing the same in medicine.
While some companies like Zipdrug and Capsule are providing on-demand solutions for quick and convenient delivery of pharmaceutical drugs, others like PillPack act as pharmacists themselves and deliver drugs via mail in pre-proportioned packets (especially useful with complex drug cocktails). Others, like India-based Netmeds and China-based Kfyao, are working to improve drug distribution in emerging markets.
We used CB Insights data to identify 12 companies that are working to get prescription drugs into our hands with less friction and save us a trip to the physical pharmacy. These are 12 companies to watch in this space, in order of total disclosed equity funding received.
1. Pillpack
PillPack fills, sorts, and delivers medications in personalized packets via mail based on when the medications are meant to be taken.
Total Disclosed Funding: $94.4M
Select Investors: Founder Collective, Accel Partners, Menlo Ventures
2. NetMeds
Netmeds is an online retailer of prescription medicines and other health products in India.
Total Disclosed Funding: $54.7M
Select Investors: OrbiMed Advisors, MAPE Advisory Group
3. Kfyao
Kfyao is a Beijing-based pharmacy O2O (online-to-offline) platform to order prescription medicines and other health products and have them delivered.
Total Disclosed Funding: $39M
Select Investors: Tiantu Capital, Unity Ventures
4. MedAvail
MedAvail is commercializing a self-service kiosk solution, the MedAvail MedCenter, for the dispensing of prescription drugs and over-the-counter medications.
Total Disclosed Funding: $30M
Select Investors: Deerfield Management, Redmile Group, Walgreens
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Track digital health startups5. Capsule
Capsule is a full-pharmacy offering 2-hour delivery of prescription meds.
Total Disclosed Funding: $20M
Select Investors: Thrive Capital
6. DeliverCareRx
DeliverCareRx facilitates patient compliance by providing home delivery of prescriptions and ongoing prescription refill management services to chronically ill, low income, case managed and managed care organization patients.
Total Disclosed Funding: $13M
Select Investors: Alerion Partners, Flare Capital Partners
7. phil
phil is an online prescription management and delivery platform that partners with pharmacies. Phil enables users to place an order for one or more prescription medications and acts as a prescription management platform only.
Total Disclosed Funding: $7.1M
Select Investors: Eniac Ventures, Forerunner Ventures, SoftTech VC
8. Myra
Myra Medicines, founded in 2015, is an e-pharmacy in India that delivers users their prescriptions in under an hour. Myra is operated on a full-stack model (with its own warehouses and a drug license) in partnership with registered pharmacists.
Total Disclosed Funding: $7M
Select Investors: Matrix Partners India, The Times Group
9. Nurx
NURX prescribes and delivers medication entirely via telemedicine. The company is prescribing and delivering birth control, emergency contraceptives, and HIV prevention meds.
Total Disclosed Funding: $5.4M
Select Investors: Y Combinator, Union Square Ventures, Lowercase Capital
10. Zipdrug
Zipdrug offers medication delivery on-demand via app or phone.
Total Disclosed Funding: $2.6M
Select Investors: Compound, Collaborative Fund, Lux Capital
11. ScriptDrop
ScriptDrop is a prescription delivery service. The company sends a courier to pick up the delivery and tracks the delivery until the patient signs for it. The pharmacist can then view the signed delivery receipt in their ScriptDrop account.
Total Disclosed Funding: <$1M
Select Investors: N/A
12. Insightfil
Insightfil utilizes software, custom packaging, and mobile tools to make sure patients are receiving their medicines and adhering to their schedule.
Total Disclosed Funding: <$1M
Select Investors: MassChallenge
Want more info on companies working in the pharmacy space? Check out our venture capital database below.
This report was created with data from CB Insights’ emerging technology insights platform, which offers clarity into emerging tech and new business strategies through tools like:
- Earnings Transcripts Search Engine & Analytics to get an information edge on competitors’ and incumbents’ strategies
- Patent Analytics to see where innovation is happening next
- Company Mosaic Scores to evaluate startup health, based on our National Science Foundation-backed algorithm
- Business Relationships to quickly see a company’s competitors, partners, and more
- Market Sizing Tools to visualize market growth and spot the next big opportunity