Medikabazaar eyes to achieve GMV of around Rs 1,500 cr in FY21

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Medikabazaar, an online B2B platform for medical supplies, on Sunday said it is looking to achieve a gross merchandise value (GMV) of around USD 200 million .

New Delhi, Jul 12 (PTI) Medikabazaar, an online B2B platform for medical supplies, on Sunday said it is looking to achieve a gross merchandise value (GMV) of around USD 200 million (over Rs 1,500 crore) in the current financial year, as it eyes tier-II and -III cities for growth going forward.

The company had an annualised GMV of around USD 100 million (over Rs 750 crore) in the previous financial year, Medikabazaar said in a statement.

“We are expecting to achieve a GMV of about USD 200 million in the current financial year,” Medikabazaar founder and Chief Executive Officer Vivek Tiwari told PTI.

The company has close to 13,000 seller partners on its platform, including manufacturers, importers and distributors. It also has over 50,000 medical establishments as customers along with 1,50,000 independent practitioners on its platform, he added.

When asked about major growth drivers for the company going forward, Tiwari said, “We expect tier-II and -III cities to be our growth drivers in the coming times. We already have 22 operational fulfilment centres and expect to double this count in the next few quarters.”

Medikabazaar would be going to cities like Coimbatore, Ranchi, Kochi, Chandigarh, Bhubaneswar and Jaipur, among others, to address the delivery delay issues and ensure that it is able to provide services even in remote places within a few days, he added.

Highlighting the scale of the products available on the platform, Tiwari said, “Our platform has India’s largest catalogue with over five lakh products spread over 12 categories. Consumables, disposables, medical devices and equipments contribute to a large portion of our sales.”

Source: PTI

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