# Pharmarack Technologies Pvt.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pharmarack-technologies-pvt

- Industry: Software
- Headquarters: Pune, India
- Website: www.pharmarack.com
- Total disclosed funding: $4.8M
- Latest round: Series A (Sep 20, 2019)
- Investors on record: 2

## About

Pharmarack Technologies Pvt. Ltd is a healthcare technology company dedicated to optimizing pharmaceutical supply chains through innovative software solutions and data analytics, enhancing efficiency and operational performance.Founded in 2015 and headquartered in Pune, India, Pharmarack Technologies Pvt. Ltd focuses on providing advanced healthcare technology solutions. The company has successfully closed 7 deals, with the most recent deal occurring on April 1, 2021, when DigiHealth Technologies LLP acquired a 92% stake for INR 1110.000 mn. The company was co-founded by Bhavik Parmar, who has a history in entrepreneurship, and the current CEO is Alok Joshi.Pharmarack specializes in a suite of innovative healthcare technology solutions tailored to streamline pharmaceutical supply chains and enhance operational efficiencies within the industry. Their core offerings include a comprehensive inventory management system designed to optimize stock levels and reduce waste, alongside an advanced data analytics platform that provides actionable insights into market trends and customer needs. These products address critical challenges faced by pharmacies, wholesalers, and healthcare providers, ensuring medication availability, minimizing operational costs, and improving patient outcomes. Pharmarack primarily caters to the North American and European markets, serving a diverse client base that includes independent pharmacies, large retail chains, and healthcare distributors, continuously enhancing its product portfolio to meet the evolving demands of the healthcare sector.In the most recent year of 2023, Pharmarack generated revenue of INR 4686642.7 and reported an EBITDA of -12187698.7. The company operates on a subscription-based model, providing clients access to its software solutions through annual contracts that vary in service level based on client size and needs.Pharmarack is focused on expanding its offerings and market presence. Plans are underway to launch new products aimed at further enhancing supply chain efficiency within the pharmaceutical sector, although specific launch dates have not been disclosed. The company intends to penetrate additional markets beyond North America and Europe, expanding its geographical footprint by targeting emerging markets in Asia by 2025. The recent acquisition by DigiHealth Technologies LLP will enable Pharmarack to automate its sales and operations, thereby supporting these growth initiatives.

## Funding rounds

- Series A, Sep 20, 2019, $3M — IvyCap Ventures Group
- Series A, Nov 15, 2018, $0.9M — Unicorn India Ventures
- Seed, Sep 30, 2016, $0.7M — Unicorn India Ventures
- Seed, Nov 10, 2015, $0.3M — Unicorn India Ventures

## Investors

- Unicorn India Ventures (https://capitalatlas.ai/funds/unicorn-india-ventures) — Seed, Series A
- IvyCap Ventures Group (https://capitalatlas.ai/funds/ivycap-ventures-group) — Series A