Pharmacy-focused quick commerce startup Rio Health has raised $4.5 million (around ₹43 crore) in a pre-Series A funding round led by Version One Ventures, the company announced. Existing investors Xeed Ventures, Good Capital, and Amplify also participated. The startup plans to use the capital to expand its presence across Delhi NCR by setting up 12 more dark stores and enhancing its technology for ordering, inventory, and delivery operations.
Founded by Ankur Agrawal and Amit Ahuja, Rio Health delivers medicines and healthcare essentials within 20-30 minutes in Delhi NCR. Customers can place orders by typing or speaking in Hindi, English, or Hinglish, or by uploading prescription photos. The startup’s AI system identifies prescribed medicines and creates orders verified by licensed pharmacists. Rio Health currently processes over 30,000 orders monthly, with an average order value of ₹600-700 and claims nearly 80% repeat customers.
The fresh funding will help Rio Health strengthen its technology to better predict neighborhood-level demand and improve medicine delivery reliability. The startup offers access to more than 20,000 SKUs and sources long-tail medicines through its dark stores. It targets an annual recurring revenue of over ₹150 crore within the next nine to 12 months, positioning itself among emerging quick commerce players in India’s healthcare delivery sector.
Rio Health aims to establish 12 additional dark stores across Delhi NCR and enhance its tech capabilities. The startup’s focus on AI-driven order processing and rapid delivery supports its goal to scale operations and meet growing demand in the region, according to cofounder Ankur Agrawal.