Pune-based healthcare supply chain platform Biddano has raised $2 million in a funding round led by Gokul Rajaram, who is a board member of global majors Coinbase and Pinterest, along with a mix of new and existing investors.
Apart from Rajaram, the funding round saw the participation of entities like JPIN Venture Catalysts UK, Anuj Srivastava, Ramakant Sharma, along with existing investors Venture Catalysts and AngelList.
The start-up plans to use the new funds to meet the growing market demand for its supply chain platform by investing in product, engineering and market teams to offer more value-added services, improve customer experience, develop new products, and strengthen its leadership in the market.
Incidentally, Biddano is hiring across various verticals and plans to grow its headcount over the next ten months to 100 from the current 30.
Founded by Talha Shaikh and Ashok Yadav in 2016, Biddano aims to improve the offline pharma distribution networks by bridging the supply-chain gaps between distributors and chemists through technology. The start-up uses a ‘plug and expand’ model to help distributors manage their demand and supply while expanding their geographical reach.
Biddano’s tech platform simplifies order management for chemists and hospitals by enabling orders from multiple distributors to be easily consolidated into pharmacy-specific deliveries. Its platform also helps pharmacies with “just-in-time” procurement solutions through its virtual inventory app.
The Pune-based venture currently serves more than 20,000 pharmacies and plans to scale to more than one lakh pharmacies on its network in the next 12 months, while aiming to become India’s largest healthcare supply chain, logistics, and payment platform over the next two to three years.
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