Plazza in Talks to Raise $15 Mn From Accel, Elevation Capital and Nexus

Bengaluru-based quick medicine delivery company Plazza is in talks to raise approximately $15 million in a new financing round led by Accel, Elevation Capital and Nexus Venture Partners after the company seeks to increase its hyperlocal pharmacy business.

Investors Accel, Elevation Capital and Nexus Venture Partners are reportedly in the process of investing $4 million each in the new round. Other existing investors including All In Capital and Better Capital may also participate in the round.

The new round of funding may value Plazza at about $50 million although details of the funding have yet to be confirmed. The funding discussions come only a few months after the startup raised $1.4 million in its seed round led by All In Capital in September 2025.

Plazza bets on quick medicine delivery

The medicine delivery platform Plazza was established by Aman Priyadarshi, a former Zomato executive. This platform focuses on improving service delivery times. With the assistance of the physical retail chain and an app-based ordering mechanism, Plazza aims to deliver medicines. The estimated delivery time is between 15 to 60 minutes.

Unlike traditional medicine delivery platforms, Plazza adopts a completely different concept of operation and works along with its own range of medicines. It uses a physical network of its own storefronts to deliver medicines to customers.

Currently, the company has two stores in Bengaluru and intends to open about 20 locations this year. Plazza is also planning to diversify the offering to include products beyond medicines, such as eating healthy snacks, mother & baby care, elder care, and other categories.

Quick commerce expands into healthcare

The potential funding by Plazza happens at a time when quick commerce companies are rapidly diversifying their offerings to cater to other sectors apart from groceries, such as the medicine and healthcare segment.

The pharmacy delivery sector has attracted established players and quick commerce entities that are offering their customers quicker access to over-the-counter drugs and the healthcare market segment in general, leading to startup differentiation on the basis of delivery time and stock availability.

The proposed funding amount for Plazza of $15 million will help the company invest in its expansion plans as it seeks to develop its network of stores and improve its delivery network. The company has already serviced over 50,000 customers and is now seeking to grow in the quick medicine delivery segment.

If this funding round is successfully closed, it will mark the second funding activity for Plazza and indicate growing interest of investors in technology startups seeking to introduce new models of quick commerce in different niches.

Disclaimer:

This article is intended for informational and news purposes only and should not be considered financial, investment, or business advice. Information is based on publicly available sources at the time of publication. Readers are encouraged to verify details from official announcements before making financial or investment decisions. Company names, trademarks, and logos belong to their respective owners.