Medicine Delivery Startup Plazza Raises $15 Mn Led By Accel, Elevation, Nexus

Bengaluru-based Plazza, a startup that delivers medicines within minutes, has closed a $15 million funding round. Accel, Elevation Capital and Nexus Venture Partners co-led the round, while existing backers All In Capital and Better Capital also put in money, founder Aman Priyadarshi told Economic Times.

Priyadarshi said the fresh capital would go toward opening more stores, upgrading the company's AI-driven inventory systems, and building the operational groundwork needed before entering new cities.

ET had first reported on this round back in April, pegging Plazza's post-money valuation at $45-50 million. The startup's previous raise was a smaller $1.4 million round in September 2025.

Priyadarshi, who previously worked at Zomato, started Plazza in 2024 as a pharmacy-only delivery service that promises medicines in 15 to 30 minutes. Nearly two years in, the company still runs just two stores, both in Bengaluru. That is set to change soon as Plazza plans to open eight more stores within a couple of months, taking the total to 10, before doubling that number to roughly 20 by year-end.

Why Growth Has Been Slow

Priyadarshi defended the company's cautious pace, arguing that pharmacy delivery leaves little room for trial and error. "Medicine isn't a space where you can make a lot of mistakes and fix it on the go as you grow. Reliability has to be built into the DNA of the company," he said.

He added that the company has bigger ambitions further out. "We are looking at 3,000 stores over the next three to four years, but we're working backwards from there. We'll first build the capability to do this reliably, and then replicate it in different pincodes."

Each Plazza store stocks close to 35,000 different medicines, far more than the roughly 5,000 SKUs a typical neighbourhood pharmacy carries, and the selection is tailored to what each locality tends to need. Priyadarshi said getting this stocking decision right is what allows the company to promise customers a one-stop experience.

The startup currently handles about 20,000 orders every month, and patients managing chronic illnesses account for 80-90% of that volume. Plazza's annual run rate touched $1.5 million last month, and the company is targeting $10 million by December.

Competition in fast medicine delivery has been building up. Quick-commerce apps including Instamart, Zepto and Blinkit have all added pharmacy and diagnostic services in recent years. Plazza also competes against newer entrants such as PillO and Zet Health, alongside established names like PharmEasy and Tata 1mg.