Mayd

Mayd is a German express drug delivery service.

History

2022: Raising $34 million

On January 27, 2022, it became known that Mayd, a startup creating an on-call drug delivery platform in Europe, raised $34 million in the Series A funding round.

The Series A round was led by Lightspeed Venture Partners. Previous investors Target Global (founded by Russians), 468 Capital and Earlybird Venture Capital also took part. As a result of the round, the total amount raised by Mayd since the startup was founded at the beginning of 2021 was $48 million. Mayd does not disclose its estimated value.

The funds raised will be used by the startup to further expand growth opportunities - in the first half of 2022, Mayd plans to enter two more European markets and increase the number of cities.

Russians invested in Mayd European drug delivery service

We will use new funds to invest in expanding the company in Germany and Europe, hiring key positions with a focus on technology, as well as in further increasing operations, Mayd reports. - By the end of the second quarter we plan to enter two other markets in Europe and are currently considering our best options.

Mayd said that customers using its delivery services are mainly women, and, as a rule, fall into the age range of 35-45 years, paying special attention to "convenience in the first place."

Colds, over-the-counter drugs for treating acute health problems, such as dry eyes, are in high demand. In addition, everything for the needs of mother and child is popular with our customers, "he adds.

When asked about the upcoming launch of electronic prescriptions in Germany, Mayd claims that they will be "the first company in the market to integrate instant delivery service into our system," adding:

Thus, we will be able to fully meet all health needs. Customers will be able to order prescription drugs instantly, in a convenient and time-saving way.

The startup also states that it expects to attract 100 thousand customers during 2022, as it is expanding from (at the beginning of 2022) six cities. In February, the startup plans to begin service in Stuttgart. By the first half of 2022, Mayd plans to operate in more than 50 cities.^[1]

2021: Attracting $15 million of investments

At the end of October 2021, the Mayd service attracted $15 million in investments from Earlybird, 468 Capital and the Target Global venture fund founded by Russians. The funds received will be used to scale the project's business.

From 2022, the Germans will be able to receive a digital prescription from their doctor, which they will be able to send to the pharmacy to perform with reimbursement of costs on the corresponding requirement of medical insurance. Delivery of electronic prescriptions also implies integration with a specific pharmacy infrastructure, which in Germany involves the use of QR codes.

Target Global, founded by Russians, invested in Mayd, a German drug delivery service

In Europe, there are a number of telemedicine platforms that provide private services that can deliver prescription drugs directly and quickly after virtual consultation with a doctor, for example, Swedish Kry. Mayd claims that it is possible to use different models of drug delivery to the doors of Europeans.

Mayd is preparing for the fact that in 2022 Germany will switch to reimbursing costs for electronic prescriptions, having launched the service now, before these changes, that is, at the initial stage it will deliver only over-the-counter goods from partner pharmacies, and EU scaling is also under consideration. Thus, from October 14, 2021, residents of Berlin can use the services of this delivery service to get over-the-counter goods, such as patches or baby mixtures, which will be delivered to their doors.

From January 2022, Mayd will be able to take orders for prescription products, linking patients to pharmacies that will process their prescriptions, package drugs for delivery and provide advice to the patient either through a phone call or in text form through the app, based on the patient's preferences. No prescription will be delivered before the patient receives a pharmacist's advice on how to take the medicine and on possible side effects. Mayd's business model in Germany is that it takes a commission from pharmacies to sell any over-the-counter goods it sends to them, as well as delivery fees for performing e-prescription delivery. ^[2][3]

Notes