Quick medicine delivery startup Plazza has secured $15 million in a Series A funding round co-led by Accel, Elevation Capital, and Nexus Venture Partners, with participation from All In Capital and Better Capital, the company announced. The funding aims to expand Plazza's store network, with plans to launch 10 new stores in Bengaluru within eight weeks and reach 20 stores in the city by year-end, founder Aman Priyadarshi told livemint.com.
Plazza has been operating a few stores in Bengaluru as part of an experimental phase before raising this capital. The Series A round will enable the company to increase its geographical footprint rapidly. Priyadarshi said the startup is targeting over 3,000 stores across multiple cities in the next three to four years, with expansion to other cities expected within a year, according to livemint.com.
The quick medicine delivery sector in India has seen increased investor interest amid rising demand for faster healthcare services. Plazza’s $15 million raise follows a trend of startups securing significant funding to scale operations and improve last-mile delivery. The involvement of prominent investors like Accel and Nexus Venture Partners highlights confidence in Plazza’s growth potential and the broader digital pharmacy market, as reported by livemint.com.
Plazza’s immediate goal is to establish 20 stores in Bengaluru by the end of 2026, with a longer-term vision to expand to over 3,000 stores nationwide within four years, founder Aman Priyadarshi confirmed in the interview with livemint.com.