Mumbai-based healthcare startup Figtree Pharmacy has secured seed funding from AJVC Fund along with participation from other investors, marking an important milestone in the company’s early growth journey. While the startup has not disclosed the exact amount raised, the fresh capital is expected to help Figtree strengthen its operations and expand its footprint across major urban markets.
Founded in 2025 by former Nomura healthcare analyst Adrit Chaturvedi and Flipspaces executive Yatin Sharma, Figtree Pharmacy is building a neighbourhood-focused pharmacy model designed around hyperlocal customer demand rather than traditional large-format retail stores.
Focus On Technology, Logistics And Private Label Medicines
According to the company, the newly raised funds will primarily be used to improve logistics capabilities, strengthen its technology infrastructure, introduce private-label medicines and scale store operations.
Figtree Pharmacy is also planning aggressive expansion in the coming months and aims to grow its network to 25 stores.
Unlike many pharmacy chains that focus on massive inventories and large retail spaces, Figtree is betting on compact neighbourhood stores that offer convenience, quick delivery and personalised customer relationships.
Rapid Expansion Across Mumbai And Delhi
Currently, Figtree Pharmacy operates four stores across premium locations including Bandra, Altamount Road and Babulnath in Mumbai, along with one store in Delhi’s ASIAD Village.
The company is now preparing to launch its fifth outlet in Greater Kailash II, one of Delhi’s prominent residential and commercial areas.
The startup claims that over 90% of its business comes from repeat customers, highlighting strong customer retention and growing trust among urban consumers. It also revealed that its average order value exceeds ₹1,000, indicating healthy consumer spending on healthcare and pharmacy products.
Building A Hyperlocal Pharmacy Brand
Figtree Pharmacy’s founders believe that smaller, neighbourhood-focused pharmacy formats can create a better customer experience compared to traditional large-format retail chains.
By combining technology, efficient supply chains and personalised service, the startup aims to solve convenience issues faced by urban consumers while building a strong local presence in each market.
The company’s expansion strategy appears aligned with India’s growing demand for organised pharmacy services and quick-access healthcare retail.
AJVC Fund Expands Startup Portfolio
The investment also reflects AJVC Fund’s growing interest in emerging Indian startups across sectors. Led by investor Aviral Bhatnagar, AJVC has been actively backing early-stage ventures with scalable business models.
Its portfolio already includes startups such as Bubble Me, Finanjo, Mindcase, Care Dale, HandyPanda, Multibagg AI, Nuyug, Mithila Foods, Jaagruk Bharat, TruFides AI, Chop Finance, Gaadi Mech and Iztri.
With this latest investment in Figtree Pharmacy, AJVC continues to strengthen its presence in India’s rapidly evolving startup ecosystem.
As hyperlocal healthcare services gain momentum across metropolitan cities, Figtree Pharmacy now appears well-positioned to become one of the emerging pharmacy retail brands in India’s urban healthcare market.
