Fundly.ai Raises $4 Million Funding to Expand Pharma Distribution Platform
Fundly.ai has served 4,100+ retailers and distributors across 600+ PIN codes and 24+ cities, while its financing business has disbursed ₹1,093 crore+ and its Pune pilot covers around 3,000 retailers.
Mumbai-based B2B pharma distribution platform Fundly.ai has raised $4 million in a pre-Series A funding round co-led by existing investors Accel and Multiply, as the startup looks to expand its commerce, payments and credit infrastructure across India’s pharmaceutical supply chain.
The round also saw participation from former RBL Bank Executive Director Rajeev Ahuja and a group of angel investors.
Separately, Fundly.ai has raised around $900,000 in venture debt from Alteria Capital, taking its total funding to more than $7 million, according to reports.
Founded in 2021 by Amit Chawla and Shreeram Ramanathan, Fundly.ai initially started as a supply-chain finance platform for businesses in the pharmaceutical ecosystem. It has since expanded into three connected areas: B2B commerce, transaction and settlement infrastructure, and embedded credit.
The startup plans to use the new capital to deepen its presence in existing markets before expanding into additional cities. It will also invest in its transaction and SaaS infrastructure and bring more pharmaceutical distributors onto the platform.
Fundly.ai is building infrastructure that connects procurement, payments, settlements and working capital for pharmaceutical retailers and distributors. Its technology integrates with existing distributor ERP systems to help manage payment cycles and settlements, while connecting different parts of the distribution workflow.
The company’s B2B commerce platform, FundlyMart, allows pharmaceutical retailers and distributors to discover and order products. The company is integrating credit into the commerce and payments ecosystem, with the aim of giving businesses access to financing alongside their day-to-day procurement and settlement activities.
Fundly.ai is also using transaction and commerce data as part of its broader credit infrastructure. Rather than relying only on conventional financial information, the company says data generated through commerce and payment activity can help inform lending decisions and provide a clearer picture of a retailer or distributor’s business activity.
The company is currently running a pilot in Pune that covers around 3,000 retailers and multiple distributors. The latest funding will allow Fundly.ai to expand its transaction infrastructure beyond the pilot while increasing its network of distributors.
The startup also plans to introduce programmes for pharmaceutical companies that could provide manufacturers with distribution-level insights generated from commerce and transaction activity across its network. Over time, Fundly.ai intends to build an intelligence layer around this data to support areas such as demand forecasting and credit underwriting.
According to founder and CEO Amit Chawla, India’s pharmaceutical distribution network continues to rely heavily on fragmented processes involving phone calls, messaging platforms and manual records. Fundly.ai is positioning its platform as a coordination layer that connects ordering, payments and credit across this network.
The company currently says it has served more than 4,100 retailers and distributors across 600-plus PIN codes and 24-plus cities since its inception. It also says it has disbursed more than ₹1,093 crore through its financing business.