Mumbai-based B2B pharmaceutical distribution startup Fundly.ai has raised $4 million in a pre-Series A round led by Accel and Multiply, aiming to scale its payment, settlement, and commerce infrastructure across India.
- Raised $4 million pre-Series A led by Accel and Multiply
- Plans to enhance payment and transaction systems beyond Pune pilot
- Building data intelligence for demand forecasting and credit underwriting
What happened
Fundly.ai, a startup transforming India's B2B pharmaceutical distribution, announced a $4 million pre-Series A funding round co-led by existing investor Accel and new investor Multiply. Additional participation came from former RBL Bank executive director Rajeev Ahuja and undisclosed angels, alongside a separate $900,000 venture debt injection from Alteria Capital. These moves bring Fundly.ai's total funding beyond $7 million.
The company has been running a pilot in Pune covering around 3,000 retailers and multiple distributors, integrating with distributors' ERP systems to manage payment cycles and settlements. Fundly.ai plans to deepen its presence in current markets before entering new cities, expanding its digital platform that streamlines ordering, payments, and credit for pharmaceutical supply chain participants.
Why it matters
India's pharmaceutical distribution system is large but highly fragmented and largely dependent on manual methods like WhatsApp, phone calls, and paper ledgers. This results in inefficiencies and lack of coordination across the supply chain. Fundly.ai aims to digitize and unify these processes, creating a cohesive infrastructure that handles commerce, payment flows, and embedded lending based on real transaction data rather than traditional financial statements.
This digital transformation can improve liquidity, transparency, and decision-making for distributors and retailers, while pharmaceutical manufacturers can gain distribution insights derived from the platform's commerce and transaction data. As the pharma distribution market in India is valued at $19.35 billion in 2026 with a projected annual growth rate over 5%, Fundly.ai is well positioned to capture significant market share by upgrading the underlying infrastructure.
What to watch next
Fundly.ai’s expansion strategy focuses first on increasing retailer and distributor density within its existing cities to enhance network economics before launching in new geographies. The success of this phased approach will be critical in validating its platform's scalability and impact on improving transaction efficiency in pharma distribution.
The upcoming introduction of an intelligence layer over its transaction data is also important, promising better demand forecasting and credit underwriting capabilities. Observers should monitor how Fundly.ai leverages this data to reduce risk, optimize supply chain operations, and potentially offer richer services for pharmaceutical companies and financial partners.