Saveo Healthtech

Saveo Healthtech is a trading B2B platform for Indian pharmacies, providing a single point of purchase for all medicines with uniform margin and service. In addition, Saveo Healthtech helps Indian pharmacies digitize the business.

History

2021: Attracting Investment from RTP Global Fund

At the end of January 2021, it became known that Leonid Boguslavsky's RTP invested in the B2B platform for the purchase of Saveo Healthtech medicines. The Bangalore company, founded in August 2019 by graduates of the Indian Institute of Technology, has already raised $4 million in seed funding with the assistance of Matrix Partners India and RTP Global. The startup will use the funds received to expand its activities in new regions.

Leonid Boguslavsky's RTP Global Fund invests in Saveo Healthtech B2B drug procurement platform

According to the KPMG report, the Indian pharmaceutical industry is very fragmented and includes 8.5 million pharmacies and 70,000 distributors. About 86% of drugs are dispensed without a uniform prescription validation methodology, which reduces industry transparency. Saveo Healthtech intends to optimize the supply chain by creating a transparent ecosystem, as well as train micro entrepreneurs and distributors.

By January 2021, Saveo serves more than 2,000 pharmacies in Bangalore and more than 3,000 pharmacies in Karnataka. In the next 18 months, the company plans to reach more than 100,000 pharmacies across India. RTP Global partner Kirill Kozhevnikov noted:

We invest in a startup of talented people who use advanced technologies to solve serious problems. The founding team of Saveo Healthtech has good business experience and has already secured a strong position in the domestic market of Bangalore. We support the Saveo team and are ready to help them build India's largest B2B pharmacy market.[1]

Notes