The news: Digital pharmacy startup NowRx raised over $23 million in its Series C equity crowdfunding round on SeedInvest. The round is set to close on May 20. While it falls short of its $73 million target, it’s the largest round SeedInvest has seen to date.
This news comes shortly after NowRx partnered with Hyundai to test last-mile medication delivery.
- The pair is testing automated dispatch, fleet management, and other last-mile optimization technologies.
- Hyundai will provide slightly modified Hyundai Ioniq 5 vehicles (its electric SUV) as part of the partnership.
- The aim of the partnership is to validate medication delivery via autonomous vehicles to reduce delivery costs down the road.
More on NowRx: NowRx is a fully digital pharmacy, meaning it has no brick-and-mortar stores.
Its fulfillment centers operate a system of software and robotics that automate prescription processing and quickly dispense medications in less than 30 seconds. NowRx provides free, same-day prescription delivery. NowRx’s software also automatically applies coupons to consumers’ medications to give them the lowest cost possible.
- Last March, it expanded into telehealth by offering patients access to virtual visits followed by same-day medication delivery.
- It operates 8 licensed fulfillment centers across California and in Phoenix.
- To date, NowRx has delivered over 487,000 medications to over 64,000 customers.