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Business News/ Companies / Start-ups/  Pluss raises $1 million from IDG Ventures, others
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Pluss raises $1 million from IDG Ventures, others

Pluss will use the money to upgrade technology, expand its teams, for marketing and to expand to five cities and pilot new projects

Pluss delivers medicines from neighbourhood stores through its own fleet of delivery boys. In addition to delivering medicines, it allows users to order baby care, pet care, personal wellness and daily essential products. Premium
Pluss delivers medicines from neighbourhood stores through its own fleet of delivery boys. In addition to delivering medicines, it allows users to order baby care, pet care, personal wellness and daily essential products.

Alpinismo Online Ventures Pvt. Ltd, which runs medicine delivery service provider Pluss, has raised $1 million from IDG Ventures India, Singapore-based m&s partners Pte. Ltd and Powerhouse Ventures (USA), the company said in a statement on Thursday.

The firm will use the money to upgrade technology, expand its teams and for marketing. It also plans to expand to five cities and pilot new projects. It is present in Delhi, Noida and Gurgaon as of now.

Based out of Gurgaon, Pluss was incorporated in 2015 by Atit Jain, a former JP Morgan Services India executive; Madhulika Pandey, former executive of telecom firm Bharti Airtel; and Tarun Lawadia, former head of operations of Chaayos, a café that serves customized tea.

The company delivers medicines from neighbourhood stores through its own fleet of delivery boys. In addition to delivering medicines, it allows users to order baby care, pet care, personal wellness and daily essential products. The app is available on Android and iOS platforms.

By the end of this year, Pluss plans to add medical tests and surgical equipment in its list of product offering.

“The idea of delivering healthcare products, including medicines, has been around; what is exciting to Powerhouse Ventures is the use of technology to build efficiency, speed, scale, cost reduction and premium customer service in changing the way Indian consumers engage with the healthcare landscape," said Sri Peddu, managing director at Powerhouse Ventures.

The company claims to be generating over 500 orders on a peak day.

It did not give the number of downloads of the app so far, but said the app subscriber base has tripled in the past three months.

With the health products market expected to grow at a compounded annual growth rate of 15% and touch $158.2 billion in 2017, Pluss has placed a bet on hyperlocal delivery, the company said.

Online health and wellness start-ups in India has attracted considerable investor attention in recent times.

Last month, Mumbai-based Kopenz Interactive Solutions Pvt. Ltd, which owns and operates on-demand healthcare marketplace Inayo, raised $300,000 from a group of angel investors, including Amit Ranjan, founder of SlideShare, and Zishaan Hayath, co-founder of Toppr.com.

Another firm in this domain is Aquamarine Healthcare Pvt. Ltd-run Healthkart which has so far raised over $22 million in multiple rounds of funding.

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Published: 26 Nov 2015, 02:24 PM IST
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