Figtree Pharmacy Raises Seed Funding From AJVC Fund to Expand Pharmacy Stores

Anisha Sahu — Sat, 09 May 2026 05:14:44 +0000

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.

The post Figtree Pharmacy Raises Seed Funding From AJVC Fund to Expand Pharmacy Stores appeared first on The India Bizz Startup News Website.

Zouk Raises $10 Million to Expand Offline Presence

Desk — Fri, 25 Oct 2024 09:10:42 +0000

Zouk, a Mumbai-based direct-to-consumer (D2C) lifestyle brand, has successfully raised $10 million (around ₹84 crore) in its Series B funding round, led by Aavishkaar Capital. This significant investment aims to boost Zouk’s offline presence, growing from just 5 stores to an impressive 75 locations across India. The funding round also saw contributions from notable existing investors, including Stellaris Venture Partners, Titan Capital, Sharrp Ventures, and JJ Family Office.

With the newly acquired capital, Zouk plans to enhance brand awareness and improve its supply chain logistics. “This fundraise enables us to scale up our online and offline channels, building on the strong consumer loyalty and product-market fit we have already established,” stated Pradeep Krishnakumar, co-founder of Zouk.

This latest funding brings Zouk’s total capital raised to $14.5 million, following a previous $3 million round led by Stellaris Venture Partners in May of last year. The startup has seen remarkable traction in its offline stores, with many customers preferring to experience Zouk products firsthand before making a purchase. Co-founder Disha Singh noted that this capital infusion will allow them to expand their teams and develop Zouk into a prominent consumer brand representing India on the global stage.

Founded in 2015 by IIM Ahmedabad alumni, Zouk has efficiently scaled its operations, amassing a customer base of over 700,000 across India. Initially focused on handbags, the brand has recently ventured into the luggage segment, launching new products such as backpacks and trolley bags. Zouk also collaborates with over 1,000 artisans throughout India, embodying the essence of Indian craftsmanship.

Divya Gupta, Investment Director at Aavishkaar Capital, expressed excitement about the investment, stating, “We are thrilled to invest in Zouk, a brand that embodies the spirit of Indian craftsmanship while meeting the needs of modern Indian women. We are confident that with our partnership, Zouk will continue to innovate and grow, making a lasting impact in the lifestyle segment.”

In addition to Zouk, Aavishkaar Capital has invested in various lifestyle brands such as GoDesi, Soulfull, and Jaypore, showcasing its commitment to fostering innovative D2C companies.