Accel Eyes $30M Investment in India's Truemeds, Valuation at $330M

Accel Eyes $30M Investment in India's Truemeds, Valuation at $330M
Accel is reportedly in advanced talks to lead a $30 million to $40 million funding round for Truemeds, an Indian online pharmacy aiming to provide affordable generic medications. Sources indicate a proposed valuation of approximately $330 million for the Mumbai-based startup. Truemeds distinguishes itself by eliminating middlemen in the supply chain, allowing direct access to generic options recommended by doctors. This funding could more than double its previous valuation of $132 million from last year. The online platform facilitates consultations and deliveries, reaching customers in remote areas.