Improving Health Outcomes with Pharmallama

Pharmallama is a startup founded by Arjun Raghunandan, Achintya Dayal, and Dipesh Rajpal, with a mission to solve the problem of chaotic medicine boxes. Their unique solution utilizes proprietary technology and machines to understand prescriptions and divide them into small packets, each containing information on the name, date, dose, and time. This helps ensure that medicines are taken correctly and on time, particularly for the 40% of older people who are dependent on critical medicine schedules.

To get started with Pharmallama, customers simply need to take a clean photo of their prescription and upload it on the website. After the prescription is authenticated by registered pharmacists, the pharmacist connects with the patient to confirm the price, and then the order is processed. The medicines are fed into the machines, quality checks are performed, and the medicines are packed into different packets.

Since its launch in April 2022, Pharmallama has already served more than 5000 customers, and the startup's vision is to replace the chaotic medicine boxes with their solution. The founders have 49.1% equity in the company, which initially raised an amount of Rs 5 crores. Pharmallama has also secured a joint MOU locked for 3 years with ACG Pam Pac. With its innovative solution and commitment to improving medicine management, Pharmallama is poised to make a real difference in people's lives.

Aims of the startup

Pharmallama aims to revolutionize the way people manage their medicines. With a focus on helping people take their medications on time and in the right amount, Pharmallama has developed a unique solution to the problem of chaotic medicine boxes. By using proprietary technology, machines understand the prescription and divide medications into small packets that are labeled with information about the name, date, dose, and time. Pharmallama's vision is to replace the traditional medicine box with their innovative approach to medication management. The process to get the medicine box involves uploading a clean photo of the prescription on the website, which is then reviewed by registered pharmacists to ensure authenticity. After confirming the price with the patient, an order is processed, and medicines are fed into the machines, quality checked, and finally packed in different packets. Since their launch in April 2022, Pharmallama has served more than 5000 customers, and the founders have raised Rs 5 crores in initial funding. With a joint MOU locked for 3 years with ACG pam pac, the founders aim to help people take their medications in a timely and organized manner, improving health outcomes and quality of life.

Revenue and Sales

The company sells a machine that costs 1.3 crores and offers pharmaceutical packaging services at a cost of ?20 per order. The average order value for their service is 1400, and they have a customer acquisition cost of 900.

One of the key factors contributing to the growth of Pharmalla is its high retention rate of 91%. This means that a large percentage of its customers continue to use their services over a prolonged period of time. This also indicates that the company is doing an excellent job of providing value to its customers and maintaining a good relationship with them.

In the FY 21 to 22, Pharmalla had sales of 17 lakhs. However, in FY 22 to 23, the company has already recorded sales of 85 lakhs, indicating an impressive growth in revenue. In the most recent month, the company recorded sales of 24 lakhs, which is a significant increase from the previous year.

Pharmalla's sales and revenue have been steadily increasing, and the company seems to be on track for continued growth in the future. With its high retention rate and a strong customer base, the company is well-positioned to succeed in the competitive pharmaceutical industry.

Funding on Shark Tanks

Pharmalla, a startup focused on the pharmaceutical industry, was seeking funding to help grow their business. The owners made an ask of 1 crore for 1.5% equity of the company, at a valuation of 66.67 crores. Anupam gave an offer of 1 crore for 2.2% equity, which was a higher percentage than the original ask, but still fell short of the owners' desired valuation.

However, things started to heat up when all five sharks - Peyush, Aman, Namita, Amit, and Aman - gave an offer of 2 crores for 5% equity, a significantly higher percentage of the company than what was originally proposed. The owners then gave a counteroffer of 2 crores for 4% equity, which would have given the sharks a slightly smaller stake in the company.

After some negotiation and consideration, the final deal was closed with all five sharks for 2 crores at 5% equity of the company. This funding would give Pharmalla the capital they needed to grow and expand their business, while also providing the sharks with a valuable stake in a promising startup. With this deal, Pharmalla was poised to continue making waves in the pharmaceutical industry and beyond.