An app to bridge demand-supply gap in pharma

Though company is in pre-revenue stages, it aims to monetise once it reaches 50,000 retailers

New drugs are entering India but demand often supersedes supply. Reap chemist solution app strives to eliminate such inefficiencies by building a network of chemists.

Companies often face issues with distribution and stock visibility. Reap chemist solution app solves supply-chain management issues at the pharmacy level, including distribution, stock visibility and working capital constraints. It also helps pharmacies increase their sales conversions.

Last month, the Mumbai-based start-up raised an undisclosed amount in seed funding from a host of angel investors, including the founders of FreeCharge, Thinklabs and Chayos. The start-up will use the funds to improvise its product and expand operations.  Founded in March 2016 by Siddharth Gadia and Girish Agarwal, the start-up aims to bridge the gap in the supply chain processes and cater to the scattered market.

Though the company is in pre-revenue stages, it aims to monetise once it reaches 50,000 retailers. Currently, there are 11,000 retailers on the platform with more than 4,000 daily visits on the app. 

The app is available in eight cities, including Jaipur, Surat, Ahmedabad, Pune and Nashik, and hopes to bring 600,000 Indian pharmacies on to a single platform. With a six-member team, the start-up plans to expand its footprints in Gujarat and Rajasthan. However, the app is only available on the Android platform. 

The pharma industry is poised to undergo a lot of change with increasing competition, frequently changing regulations, introduction of the Goods and Services Tax and increasing patient awareness.