An­gels Hope this Chemist will Reap Healthy Prof­its Soon

The Economic Times - - Disruption: Startups & Tech - Shadma.Shaikh@ times­

Ben­galuru: Reap Chemist, which runs an epony­mous B2B sup­ply chain man­age­ment mo­bile ap­pli­ca­tion for phar­ma­cies, has re­ceived an undis­closed amount in seed fund­ing from a clutch of an­gel in­vestors in­clud­ing FreeCharge founders Kunal Shah and San­deep Tan­don, Thin­klabs founder Ga­gan Goyal, and Chayos co­founder Nitin Saluja.

The Mumbai-based startup will use the funds to im­pro­vise its prod­uct and ex­pand op­er­a­tions, said Sid­dharth Ga­dia, CEO of Reap Che- mist. Pro­moted by Work­cell So­lu­tions, the Reap Chemist app helps pharma stores in­crease sales con­ver­sion by solv­ing is­sues at the sup­ply-chain level. “The ₹ 20-bil­lion In­dian pharma dis­tri­bu­tion mar­ket is highly frag­mented with 10,000plus pharma com­pa­nies, 60,000-plus dis­trib­u­tors and 600,000-plus phar­ma­cies,” said Ga­dia. “We have been able to crys­tallise the core prob­lems that the even­tual cus­tomers of this B2B sup­ply chain, i.e. the phar­ma­cies, face and we are solv­ing these real prob­lems one by one.”

The app that helps solve sup­ply chain man­age­ment is­sues at the phar­macy level — in­clud­ing com­plex dis­tri­bu­tion, poor stock vis­i­bil­ity, work­ing cap­i­tal con­straints, and ab­sence of a sin­gu­lar mar­ket­ing medium, among oth­ers — has over 6,000 phar­macy stores signed up on their plat­form across four cities — Jaipur, Su­rat, Ahmed­abad and Nashik. It re­cently launched Chemist Com­mu­nity— a pro­fes­sional net­work of phar­macy store own­ers and dis­trib­u­tors who col­lab­o­rate busi­ness de­tails to in­crease sales.

“We see a lot of dis­rup­tion opportunity in the B2B pharma sup­ply chain through new-age tech­nolo­gies. It is a huge mar­ket with good mar­gins in the chain. Team reap is ap­proach­ing the prob­lems of a very com­plex sup­ply chain in an in­ter­est­ing way,” said San­deep Tan­don, co­founder of FreeCharge and an in­vestor in the an­gel round.

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