Another startup walked away with funding on Shark Tank Nepal, this time it’s NepMeds – an online pharmacy and digital healthcare platform that landed NPR 2 crore for 40% equity. This article will discuss everything about NepMeds, including their business model, services, and current market position in Nepal.
NepMeds Platform Overview
Digital Pharmacy Business
NepMeds operates as Nepal’s online pharmacy, and it lets users order prescription and over-the-counter medicines through their website or mobile app.
They’re covering the basics you’d expect – generic medicines, branded drugs, wellness products, vitamins, supplements, and even Ayurveda items. But they’re not stopping at just medicines. The platform also stocks beauty products, baby care items, surgical consumables, and medical devices.
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Beyond Medicine Delivery
Here’s where it gets more interesting – they’ve expanded beyond just selling pills. You can book online doctor consultations, schedule lab tests, arrange vaccinations, and store health records on their platform. They’ve also built a health and wellness content library. Whether people actually want all these services bundled together or prefer specialized platforms for different needs is something the market will decide.
User Experience and Payments
The platform lets you upload prescriptions, track orders, and set refill reminders. Payment options include cash on delivery, mobile banking through e-Sewa and Khalti, cards, or their in-app wallet. One feature they highlight is the ability to order medicines from abroad for family back home. Could be useful for the large Nepali diaspora.
Revenue Claims
During their Shark Tank pitch, the founders claimed they’ve generated NPR 7 crore in total revenue since inception. Now, let’s see how it goes for them in the long run.
