Saveo

Saveo Healthtech Private Limited operates as a B2B managed marketplace for pharmacies in India, addressing the challenges of a highly fragmented pharmaceutical supply chain. The company was founded in 2019 by IIT graduates Vivek Jaiswal, Amit Kumar, Anurag Savarnya, and Shivansh Shrivastava. Their mission is to streamline the procurement process for pharmacies, ensuring that no prescription bounces due to the unavailability of medicines.

The Indian pharmaceutical distribution landscape is characterized by a vast number of retailers and distributors, leading to inefficiencies and low prescription fill rates, often below 60% even in metro areas. Saveo tackles this issue by providing a single procurement point for pharmacies. The platform connects pharmaceutical companies and distributors with retail pharmacies, offering a comprehensive catalog that includes allopathy, generics, surgical, ayurvedic, and OTC products. This consolidation aims to empower the multitude of micro-entrepreneurs running local pharmacies across the country with better technology and a more reliable supply chain.

Saveo's business model is a managed marketplace that operates on a pull-based, non-inventory system. It partners with existing suppliers, turning them into 'dark stores', and utilizes their inventory without holding it directly. This asset-light approach allows for scalability and efficiency. When a pharmacy places an order through the Saveo platform, the order is routed to the appropriate supplier, invoiced through Saveo, and then picked up and delivered via a third-party logistics network. This model provides pharmacies with faster delivery, more competitive pricing, and access to a much wider range of SKUs than a traditional distributor can offer. Revenue is generated from the sale of these medicines to the pharmacies.

Since its inception, Saveo has experienced significant growth, expanding its network to over 12,000 active outlets across states like Karnataka, Telangana, and Tamil Nadu. The company has successfully raised a total of $20 million over multiple funding rounds, with its first round in April 2020. These funds are being utilized to deepen its presence in existing markets, expand into new territories by setting up more fulfillment hubs, and further develop its technology platform. The platform's features include live order tracking and digital payment services, enhancing the procurement experience for pharmacy owners.

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