# Medway Technologies Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/medway-technologies-private

- Industry: Healthcare IT
- Headquarters: India
- Website: www.medpay.in
- Total disclosed funding: $1.1M
- Latest round: Seed (Nov 27, 2020)
- Investors on record: 2

## About

Medway Technologies Private Limited, through its MedPay® platform, specializes in delivering technology-driven solutions tailored for neighborhood pharmacies, enhancing their operational efficiency and customer interactions.Founded in 2020, Medway Technologies Private Limited operates in India, focusing on the pharmacy sector. The company does not have subsidiaries or a parent company. It was established independently and has completed two significant deals, with the most recent funding round occurring on November 27, 2020. This Seed round raised INR 84.77 million from investors Entrepreneur First and GrowX Ventures, bringing the total amount raised to INR 84.77 million and establishing a current company valuation of INR 359.025 million. The CEO, Mubashir Ali, leads the company, although there’s no information on prior companies he founded.MedPay® offers a comprehensive suite of technology-driven solutions specifically designed for neighborhood pharmacies, aimed at enhancing operational efficiency and customer engagement. Core offerings include digital payment processing, delivery services, compliance management, inventory monitoring, customer engagement tools, and detailed business reporting. These services address critical challenges faced by pharmacies, such as ensuring timely payments, meeting regulatory compliance, and facilitating effective customer communication. MedPay® caters to a diverse clientele, including independent pharmacies located in major urban centers across India, such as Bangalore, Bellandur, and Akshaya Nagar, enabling them to transition seamlessly to digital operations through features like automated reminders and real-time stock alerts.In the most recent fiscal year 2023, Medway Technologies Private Limited reported a revenue of INR 979,428.2. The company also recorded an EBITDA of INR -606,467.9 for the same year, reflecting its current business status.Following the Seed funding round on November 27, 2020, which raised INR 84.77 million, Medway Technologies Private Limited plans to utilize this capital to address the increasing demand for its services and to broaden its product offerings. The company aims to expand its presence in new geographic markets and enhance its technological capabilities to better serve independent pharmacies throughout India. Specific details on upcoming products or timelines for market expansion have not been disclosed, but the focus remains on leveraging the recent funding to support these growth initiatives.

## Funding rounds

- Seed, Nov 27, 2020, $1.1M — GrowX Ventures, Entrepreneur First

## Investors

- GrowX Ventures (https://capitalatlas.ai/funds/growx-ventures) — Seed
- Entrepreneur First (https://capitalatlas.ai/funds/entrepreneur-first) — Seed