Online Pharmacy Startup Cap Cost $ 1B Price

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After a recent $ 300 million fundraiser, online pharmacy startup Capsule is now worth more than $ 1 billion, said Eric Kinariwala, CEO.

The New York-based launch will provide prescriptions on the same day, provide messengers by bicycle or car, and report on drug compliance.

With a recent fundraiser, it plans to build a new service – an online marketplace for digital health services.

Just like buying an iPhone and choosing apps, people can get the best quality products and services to meet all of their healthcare needs in one capsule digital pharmacy as well as one health app. And founder Eric Kinariwala on the news.

Dubai Capital Partners has led a round of fundraising from past investors Bailey Giford, Troop Price and Well Rock.

Capsule was founded in 2015 in New York City under a doctor’s prescription. Four years later Startup received $ 200 million in funding, Plans to expand its pharmaceutical operations to other states. He has recently partnered with Minnesota-based Health System Partners to begin prescribing drugs in Minnesota, New York and Connecticut.

Kansaswala said in an email that Capsule got an idea for the market after other health care companies, such as Insurance Start Oscar and Mental Health Start Ginger, set up APIs.

“And then something exciting happened – we started hearing from our customers that they wanted to buy more from a grocery store, see a doctor, look for a doctor, see their laboratory results, manage their health better in the capital. Etc. ” And at the same time, we hear from our partners that they want us to understand more by supporting their digital digitalization and to drive better health outcomes.

He said the service will be designed for insurance, telemedic service providers, doctors and employers and will make digital health services easier to implement.

At the same time, Capsule faces competition from other online pharmacies and long-established brands. In particular, Amazon last year launched a Publishing its own online pharmacy service Later Get PillPack in 2018.

Photo Credit: Status_V, Getty Images

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