Biddano raises funding to build India’s largest healthcare supply chain
Biddano, a healthcare supply chain platform, said it has closed a $2 million Pre-Series A1 financing round led by Gokul Rajaram of Doordash, Coinbase, and formerly of Google. There was participation from new investors, JPIN, Venture Catalysts UK, Anuj Srivastava and Ramakant Sharma, and existing investors Venture Catalysts and AngelList.
The new funding will enable Biddano to fulfill strong market demand for its supply chain platform by investing in product, engineering and go-to-market teams. It would help it to offer more value-added services, improve customer experience, develop new products, and strengthen its leadership in the market. Biddano is hiring across various roles and verticals and plans to grow its headcount over the next ten months to 100 from the current 30.
Founded by Talha Shaikh and Ashok Yadav, Biddano is addressing the opportunity in the offline pharma distribution networks by bridging supply-chain gaps between distributors and chemists through technology. It uses a ‘plug and expand’ model to help distributors manage their demand and supply while expanding their geographical reach.
“Biddano wants to be a one-stop supply-chain solution for all healthcare products in the country, and improve the quality of healthcare by building India’s largest healthcare supply chain platform,” said Ashok Yadav, co-founder of Biddano.
Biddano’s tech platform simplifies order management for chemists and hospitals by enabling orders from multiple distributors to be easily consolidated into pharmacy-specific deliveries. Biddano’s platform helps pharmacies with ‘just-in-time’ procurement solutions through its virtual inventory app.
“We help healthcare ecosystem stakeholders expand their reach through innovative technology solutions, and by entering new geographies with a broader suite of products,” said Yadav. “Our mission is to empower pharmacies and distributors to create a stronger, robust, and more efficient ecosystem for healthcare consumers.”
Biddano serves more than 20,000 pharmacies and plans to scale to more than 100,000 pharmacies on its network in the next twelve months. There are around 850,000 pharmacies in India, and Biddano plans to cover over 25 markets over the next twelve months and serve more than 10 per cent of all pharmacies in India within the next few months.
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