Funding · Healthcare & Life Sciences

Rio Health raises Rs 43 cr in pre-series A funding

By Startup Enthusiast · 23 September 2026

Date: 23 September 2026
Company: Rio Health
What it does: Quick-commerce platform for medicines
Kind: Funding
Amount: Rs 43.08 Cr
Stage: pre-Series A
Based in: Ghaziabad
Sector: Healthcare & Life Sciences

What they do

Rio Health operates a quick-commerce [ultra-fast delivery retail] platform that delivers medicines and healthcare essentials across the Delhi NCR region

What happened

The company raised Rs 43.08 crore ($4.5 million) in a pre-Series A funding round led by newcomer Version One Ventures

Why it matters

The fresh capital will fund its expansion from three to over 15 dark stores [delivery-only warehouses] and enhance its ordering technology

The details

Rio Health has secured Rs 43.08 crore or $4.5 million in a pre-Series A funding round.
New investor Version One Ventures spearheaded the financing round with an investment of Rs 21.30 crore.
Existing backers Xeed Ventures, Good Capital, and Amplify Partner also participated in the round.
Regulatory filings indicate the startup issued 7,130 compulsorily convertible preference shares at Rs 60,415 per share.
The transaction pushed the company's post-money valuation to approximately Rs 170 crore.
Funds will scale its dark store network from three to more than 15 locations across Delhi NCR.
The company aims to hit an annual recurring revenue of over Rs 150 crore within nine to twelve months.

The bigger picture

The platform currently manages over 30,000 monthly orders with repeat buyers making up 80% of total volume.
Average order values range between Rs 600 and Rs 700 on the platform.

About the business

Rio Health delivers medicines, personal care items, baby-care goods, and everyday health essentials in 15 to 30 minutes.
Customers place orders directly through WhatsApp by sharing a prescription photo or medicine list without downloading an app.
The service operates daily from 8 AM to 1 AM with no minimum order requirements or delivery fees.
Each dark store covers a radius of roughly three kilometers to ensure rapid fulfillment.
The catalog includes access to over 20,000 stock-keeping units alongside hard-to-find medicines sourced via distributor networks.
Neighborhood demand data helps forecast local requirements and optimize inventory levels at each facility.

What happens next

Expand operations across the Delhi NCR region.
Scale the dark store network from three to more than 15 units.
Strengthen software systems for ordering, inventory management, and deliveries.
Achieve an annual recurring revenue of over Rs 150 crore over the next nine to twelve months.

The deal

Type: pre-Series A

Investors

Version One Ventures (lead) — New investor that led the pre-Series A round with a **Rs 21.30 crore** contribution.
Xeed Ventures (existing) — Existing backer that invested **Rs 11.84 crore** and holds a **21.11%** stake.
Good Capital (existing) — Existing investor that put in **Rs 9.47 crore** through its second fund, holding a **17.07%** stake.
Amplify Partner (existing) — Existing investor participating through Amplify IV PCC with a **Rs 47 lakh** investment.

Founders

Ankur Agrawal, Co-founder
Amit Ahuja, Co-founder

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