Biddano aims to become India’s first and largest B2B healthcare supply chain platform, said startup cofounder Talha Shaikh.
PUNE, Apr 13 (The CONNECT) – Pune-based B2B healthcare platform Biddano plans to expand its network to 25 cities pan-India on the back of growing demand for healthcare services.
While the pandemic has adversely affected people's lives, livelihood, and businesses, it has also forced the healthcare industry to adopt cutting-edge technological tools to serve the public better. Biddano grew by 36% in just three months during the lockdown. Volumes doubled to Rs, 250 crores (GMV sales), and the company added over 10,000 pharmacies to the network, expanding to 150 areas, and processed 1.5 million orders.
At present, the start-up is operational in six cities in Maharashtra and Andhra Pradesh and plans to enter new cities post its upcoming funding round.
Founded in 2016 by Talha Shaikh and Ashok Yadav, Biddano which helps bridge supply-chain gaps between distributors and chemists plans to raise around $10 million in a Series A round over the next two months. The company had raised about a million dollars in a pre-Series A round from Venture Catalysts and LetsVenture in October last year.
Shaikh said, "We are already in talks with multiple investors for our Series A round. We plan to use the funds to expand our network and build a community of one lakh+ retailers and 5000+ distributors, enhance our technology and infrastructure, and launch new products. With all this in place, Biddano would become India’s first and largest B2B healthcare supply chain platform”.
Biddano uses a 'Plug & Expand' model to help distributors seamlessly manage their demand and supply while expanding their geographical reach. The platform further simplifies order management for chemists and hospitals by enabling multiple distributors to be easily consolidated into pharmacy-specific deliveries. Through its state-of-the-art fulfilment infrastructure, Biddano also ensures pharmacies, chemists and hospitals procure medicines in less than three hours of placing an order.
With its AI-led approach, Biddano aims to deliver healthcare products to various stakeholders at a reasonable cost and become a one-stop solution for all the procurement and fulfilment needs of chemists and hospitals.
"The business is being structured in such a way that it not only eliminates inefficient processes both at distributor and retailer end but also improves throughput and margin. The entire emphasis is on the ‘Just-In-Time’ inventory model to free up working capital” said Yadav co-founder of Biddano.
According to IBEF.org, the total market size of the supply chain for pharmaceutical products and medical instruments including the surgical market is pegged at $62 billion and is growing at 13% CAGR.
Lately, the segment has also attracted significant investor interest. Saveo, a Bengaluru-based start-up has recently raised $4 million from Matrix Partners. Newly turned Unicorn Pharmeasy has also recently started a supply chain subsidiary Retailio. Digihealth, a company formed by a consortium of Cipla, SunPharma, and other few pharma companies had acquired IvyCap-backed Pharmarack a few days ago.