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B2B pharma distribution startup Fundly.ai has raised $4 Mn (about ₹38 Cr) in a pre-Series A funding round co-led by existing investor Accel and Multiply. Former RBL Bank executive director Rajeev Ahuja and a group of undisclosed angel investors also participated in the round. Separately, the startup secured $900K in venture debt from Alteria Capital. With the latest infusion, Fundly.ai’s total funding has crossed $7 Mn. The Mumbai-based startup plans to deepen its presence in its existing markets before entering new cities. It will also expand its transaction and SaaS infrastructure beyond its ongoing Pune pilot and bring more distributors onto the platform. Fundly.ai is building payment and settlement infrastructure that integrates with distributors’ ERP systems and manages payment cycles. Its Pune pilot covers about 3,000 retailers and multiple distributors. The startup also plans to introduce programmes for pharmaceutical companies, enabling manufacturers to derive distribution-level insights from the commerce and transaction data generated through its network. Further, Fundly.ai intends to build an intelligence layer over this data to improve demand forecasting and credit underwriting. “India’s medicine distribution runs on WhatsApp, phone calls and paper ledgers. It works, but nothing connects. We’re building the coordination layer that sits underneath it, where ordering, payments and credit finally talk to each other,” Fundly.ai founder and CEO Amit Chawla said. Founded in 2021 by Chawla and Shreeram Ramanathan, Fundly.ai began as a lender to businesses operating in the pharmaceutical supply chain. It has since expanded into a broader B2B distribution platform spanning commerce, transaction infrastructure, and embedded lending. Its B2B ecommerce platform, FundlyMart, allows retailers and distributors to discover and order medicines, with credit embedded directly into the checkout process. Fundly.ai said its lending decisions are based on commerce and payment data generated through the platform instead of relying only on borrowers’ conventional financial statements. The startup claims to have served more than 4,100 retailers across over 24 cities and more than 600 pin codes. It plans to increase retailer and distributor density in its existing markets to improve the economics of its network before expanding geographically. Prior to this round, Fundly.ai raised $3 Mn in seed funding led by Accel India in 2023. India's pharmaceutical distribution and logistics market is valued at $19.35 Bn in 2026 and is projected to reach $25.35 Bn by 2031, growing at a CAGR of 5.55%. Despite its scale, much of the trade still runs through old systems, with retailers and distributors relying on phone calls, WhatsApp and traditional ledgers for ordering, payments and credit. The fragmented nature of the supply chain has created opportunities for startups attempting to digitise different parts of pharmaceutical distribution. SwishX, for instance, is using AI to automate back-office sales and distribution workflows for pharma companies, including contracts, tenders and sales operations. At the retail end, Zeelab is building an affordable pharmacy network by reducing costs across the supply chain. It has expanded its offline store network while building its online business and is targeting ₹200 Cr in revenue in FY27. Meanwhile, healthcare supply chain startup DocPharma recently raised $2 Mn to expand its distribution network and dark-store infrastructure.
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