Health is something that can impact you physically, mentally, and financially. Not just in India, but if you go to any corner of the world, health is important, and it is not cheaper. It comes with a cost.
In every country, people face unique health challenges, and today, one issue seems too common across the borders, which is chronic diseases. In India, we are seeing an alarming rise in conditions like diabetes, hypertension, heart disease, and respiratory illnesses.
Have you noticed someone in your family or circle battling a chronic condition? If you didn’t understand what “chronic disease” is, let’s break it down. Chronic diseases are health conditions that last a long time, typically for years, and often require ongoing care or management. Unlike a sudden fever or a temporary infection, these conditions persist, quietly impacting daily life long before they become visible. Understanding these diseases is the first step toward prevention, management, and ultimately, reclaiming control over your health and well-being.
According to a 2020 study by the Union Ministry of Family and Health Welfare, two out of every three senior citizens in India are battling at least one chronic disease. And it’s not just a health issue, but it’s also a financial burden. These individuals are forced to spend 15–20% of their monthly income on medicines alone, turning a struggle for health into a struggle for survival.
This is the reality millions face daily: managing their conditions while juggling the costs, often sacrificing other essentials just to stay alive and healthy. Chronic diseases aren’t just medical challenges; they are life-changing financial strains that impact families across the country. So, this is where a startup was born to serve the people in this segment.
True Meds is an Indian healthcare startup that focuses on making quality medicines accessible and affordable, especially for patients managing chronic diseases. The company’s core belief is simple: healthcare should not be a financial burden. True Meds emphasizes generic medicines, which are drugs that are clinically equivalent to branded versions but are significantly cheaper. By promoting generics, the company ensures that patients receive effective treatment without burning their pockets.
The startup goes beyond just supplying medicines. True Meds provides reliable doorstep delivery, transparent pricing, and timely reminders, helping patients stay consistent with their treatment plans. This is particularly valuable for those with chronic conditions like diabetes, hypertension, and heart disease, where missing doses or delaying medication can have serious consequences.
This space is so competitive and often has a vast number of players in this segment. While several healthcare startups struggled to maintain their early momentum, Prosus Ventures-backed PharmEasy, for example, saw its valuation tumble from a peak of $5.6 billion to under $600 million. True Meds’ founders took a different approach. Rather than competing directly in an overcrowded market, they chose to focus on a specific, high-impact niche: generic medicines. That’s how they differentiated themselves, and even investors backed this approach.
As a result, they recently raised funding. True Meds has successfully raised $85 million in a Series C funding round, led by Accel and Peak XV Partners. The round, completed in two tranches, also saw participation from Westbridge Capital and Info Edge Ventures. True Meds plans to deploy these funds to establish more fulfillment centers in non-metro regions, expand its engineering and product teams, and set up a new office in Bengaluru. With these initiatives, the company aims to triple its national reach, bringing affordable generic medicines and telehealth services to more patients across India.
True Meds has strategically partnered with various organizations to enhance its service offerings and expand its reach. Notably, the company has collaborated with Alliance Pharmaceuticals Ltd to implement AI-powered counterfeit detection systems, ensuring the authenticity and safety of medications for consumers. Additionally, True Meds has joined forces with companies like HANAH and Blueshift Nutrition, enabling customers to utilize their Health Savings Account (HSA) or Flexible Spending Account (FSA) funds for purchasing health and wellness products. This collaboration allows consumers to save approximately 30–40% on eligible items, promoting proactive health investments. So, with the partnership, they are able to offer the discounts and make the medicines even more affordable.
When they are offering these services, there will be a great response from customers, and that’s what we can see in their financials as well. In FY24, the company’s revenue from medicine and medical device sales accounted for a dominant 98.4% of total operating income, surging 102% to ₹310 crore, which is up from ₹161 crore in FY23. Additional income streams included shipping (₹1.7 crore), packaging (₹2.8 crore), and interest on deposits (₹10 crore), bringing the total income to ₹325 crore. On the expenditure side, the cost of procuring medicines and devices represented 67.8% of total expenses, which rose to ₹262 crore in FY24 due to increased scale.
These numbers highlight not only the strong growth trajectory of True Meds but also its ability to scale operations efficiently while maintaining a patient-focused approach, ensuring affordability and accessibility remain central to its mission. So, overall, the company is in line to reach its target with its new funding round and fresh capital infused. But what remains to be seen is how this company will scale in this highly competitive segment.
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