Bengaluru-based Plazza, a quick medicine delivery platform, is currently in discussions to secure approximately $6 million in a new funding round, as reported by sources familiar with the situation. This round is expected to be led by Z47 Partners.
In addition to Z47, existing investors such as All In Capital and Better Capital are anticipated to contribute to this funding round.
While inquiries sent to both Plazza and Z47 Partners did not receive a response prior to publication, the new capital is intended to facilitate the expansion of Plazza's operations and the establishment of additional dark stores in Bengaluru. Currently, the startup operates in select localities within the city.
This funding development follows a previous raise of $1.2 million from All In Capital and Better Capital six months ago.
Founded in 2024 by former Zomato executive Aman Priyadarshi and Aniruddha Sen, the founder of Kenko, Plazza claims to deliver medicines within 60 minutes in designated pincodes of Bengaluru. Notably, Sen transitioned out of Plazza earlier this year to start an AI-driven legal tech company called Miss Lucy.
Initially, Plazza partnered with seven licensed pharmacies and later opened a Lifestore in Yemalur to enhance sales and optimize inventory management.
The startup boasts over 20,000 SKUs, including medicines and monitoring devices, available for delivery around the clock.
Plazza faces competition from established players such as Tata 1mg and Apollo Pharmacy. As consumer preferences evolve, the quick commerce sector is experiencing significant growth, with the Indian market projected to expand from $6.1 billion in 2024 to $40 billion by 2030, achieving a CAGR of 37%. This growth rate is nearly double that of the overall e-commerce industry.
