B2B healthcare platform Biddano, aims to revolutionise offline pharma distribution networks by bridging supply-chain gaps between distributors and chemists through technology is looking to expanding its network to 25 Indian cities on the back of growing demand in healthcare services. At present, the start-up is operational in six cities across Maharashtra & Andhra Pradesh, and plans to enter new cities post its upcoming funding round. The Pune-based start-up 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.
Founded in 2016 by Talha Shaikh and Ashok Yadav, Biddano helps bridge supply-chain gaps between distributors and chemists with its full-stack technology platform. It 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.
On its expansion and growth, Talha Shaikh, co-founder, Biddano, stated, “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 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”.
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. According to IBEF.org, the total market size supply chain for pharmaceutical products and medical instruments including surgical market, is pegged at $62 billion and is growing at 13% CAGR.
Lately, the segment has also attracted a 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 consortium of Cipla, SunPharma and other few pharma companies, had acquired IvyCap-backed Pharmarack a few days ago.
“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 ‘Just In Time’ inventory model to free-up working capital” said Ashok Yadav co-founder of Biddano.
To address some of the challenges that are currently faced by the Indian healthcare ecosystem at present, Biddano is introducing additional services backed by their proprietary tech platform:
Shortbuk One-stop procurement platform for pharmacies for non-pharma and fast-moving consumer goods
Biddano Logistics: Tech-enabled rapid solution for last-mile deliveries catering to distributors and pharmacies/hospitals
Biddano Capital: a facility that will solve working capital problems for various stakeholders on platform such as pharmacies, hospitals and distributors.
The impact of Covid19 on Biddano’s growth, both the co-founders commented that 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 after Covid triggered a pan-India lockdown last year. In the past year, the volumes doubled to Rs 250 crore (GMV sales), and the company added over 10,000 pharmacies to the network, expanding to 150 areas, and processed 1.5 million orders.