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Corner Store Technologies, a subscription pharmacy that operates under the brand name LifCare, has raised a Series B funding of $11 million from SAIF Partners, Nexus Ventures and IL&FS.
The company will use the proceeds to expand LifCare’s geographical presence, and will also invest in technology.
“With this round, we are excited to expand our geographic footprint. We will also look to expand our suite of services to become a full-service disease management platform for chronic patients,” Krishna Killa, CEO & Co-founder of LifCare, said.
LifCare was founded in 2015 by Killa, who was earlier with Bain Capital PE, and Rohit Mohta, who was with Cipla.
LifCare uses technology and data science to automate medicine refills so patients never miss a dose.
The company is also able to cut down the cost to end patients by running an efficient supply chain.
LifCare is a subscription pharmacy targeting patients with chronic illnesses. The company serves more than 3 lakh families in North India, who take medicine refills every 30-60 days.
These patients – suffering from diseases such as diabetes, cardiac conditions, hypertension, renal disorders and thyroid among others – require ongoing medication.
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