Funding · Healthcare & Life Sciences

Figtree Pharmacy raises seed funding from AJVC Fund

What they do

Figtree Pharmacy runs small-format neighbourhood pharmacy stores in Mumbai and Delhi

It raised an undisclosed seed round led by AJVC Fund to expand logistics, tech, and stores

The chain targets 25 stores and already gets over 90% repeat customers

Figtree Pharmacy has closed a seed funding round of an undisclosed amount.
The round was led by AJVC Fund, with participation from other unnamed investors.
The company will use the funds to improve logistics and its tech stack.
It also plans to launch private-label medicines and expand its store network.
Figtree Pharmacy currently operates 4 stores in Mumbai and Delhi.
A fifth store is opening soon in Greater Kailash II, Delhi.
The chain aims to have 25 stores in its network.

Figtree's focus on hyperlocal demand and high repeat rate (over 90%) shows strong customer loyalty.
The seed round will help it scale from a micro-chain to a larger network.

Figtree Pharmacy is a neighbourhood-focused pharmacy chain founded in 2025.
It operates small-format stores that serve hyperlocal demand, not large-format retail.
Its current stores are in Bandra, Altamount Road, Babulnath (Mumbai) and ASIAD Village (Delhi).
Over 90% of its business comes from repeat customers.
The average order value is above Rs 1,000.

AJVC Fund (lead) — Early-stage investment firm led by Aviral Bhatnagar; portfolio includes Bubble Me, Finanjo, Mindcase, Care Dale, HandyPanda, Multibagg AI, Nuyug, Mithila Foods, Jaagruk Bharat, TruFides AI, Chop Finance, Gaadi Mech, Iztri.

Product: Small-format neighborhood pharmacy stores with hyperlocal focus instead of large-format retail
Customers: Local residents seeking convenient neighborhood pharmacy services with repeat purchases
How it makes money: Small-format retail pharmacy chain with private-label medicines and technology stack
What sets it apart: 90% repeat customer base with average order values exceeding Rs 1,000 through hyperlocal focus