PinkBlue, an Indian startup focusing on the supplies of the materials and equipment used by healthcare institutions has raised $156k (INR 1.5 Cr) from an online portal, TermSheet.io
TermSheet connects the investors and startups online and helps them close the deal. The round also saw participation from a bunch of angel investors including Rakesh Gakhar, Rajeev Mudumba, Nagendra Prasad Bhanuprakash, and ShashiKant Singh, Ajay Modani, Dr V Ravinder, Anirudh Rastogi, Abhishek Jain etc.
Founded by Valliappan Kumarappan and Varun Singh in 2014, the startup connects the manufacturers as well as healthcare institutions on a single platform, thus ensuring the high quality products at the best possible rates. The startup also has a SaaS solution for both, healthcare institutions and manufacturers to manage the supply chain effectively.
The startup has already gained over 1500 customers and it plans to increase the user base by 10,000 in next 6-12 months. Along with that, it is focusing to touch a revenue run rate of $4 million in the same time frame. Along with expanding geographically, the raised funds will be used to improve technology, hire more manpower, improving customer experience and implement some smart solution in supply chain management.