Ecommerce giant Flipkart which is currently backed by Walmart has decided to enter into the online pharmaceutical business. This announcement was made with the launch of Flipkart Health +. Agreements have been signed to acquire a major share in SastaSundar, though the details have not been revealed. SastaSundar.com is an online pharmacy and digital healthcare platform.
The company is an eight year old Kolkata based start-up. It has more than 490 pharmacies and was last valued at $125million in 2019. Flipkart is not the only Ecommerce platform selling medicines. Last year Amazon forayed into the pharmacy business. Tata digital bought online pharmacy 1mg, while its rival Reliance retail acquired an online pharmacy Netmeds last year.
PharmEasy, the leading healthcare startup has filed for $843million initial public offering.
Since the beginning of the pandemic, a large number of people are buying medicines online.
“We are excited to enter this space through this investment in SastaSundar.com, a company that has established itself as a trusted partner for lakhs of consumers through genuine products, a technology powered platform and a wide network. The synergies between Flipkart group and Sastasundar.com combined with our commitment to prioritise our customer’s needs would help us grow and transform online healthcare in India” said Ravi Iyer, senior Vice President and corporate head of Flipkart
