AJVC Fund Invests in Pharmacy Startup Figtree’s Seed Round
According to the startup, repeat customers contribute more than 90% of its overall business, while average order values have crossed Rs 1,000.
Pharmacy startup Figtree Pharmacy has secured seed funding from AJVC Fund along with participation from other investors. The company did not disclose the size of the round.
The Mumbai-based startup plans to utilise the capital to strengthen its logistics network, enhance its technology infrastructure, introduce private-label medicines, and expand its retail footprint.
Founded in 2025 by Adrit Chaturvedi, a former healthcare analyst at Nomura, and Yatin Sharma from Flipspaces, Figtree Pharmacy operates compact, hyperlocal pharmacy stores focused on serving residential neighbourhoods.
Unlike large-format pharmacy chains that rely on extensive product inventories, Figtree follows a small-format model built around local demand patterns and repeat customer engagement.
The company currently operates stores across Mumbai locations including Bandra, Altamount Road, and Babulnath, along with a presence in Delhi’s ASIAD Village. It is also preparing to launch another outlet in Greater Kailash II.
According to the startup, repeat customers contribute more than 90% of its overall business, while average order values have crossed Rs 1,000.
Figtree plans to expand its network to 25 stores as it looks to strengthen its position in the hyperlocal pharmacy and wellness retail segment.
AJVC Fund, led by Aviral Bhatnagar, has been actively investing in early-stage Indian startups across sectors, with portfolio companies including Bubble Me, Mindcase, Jaagruk Bharat, and TruFides AI, among others.