About IdeaRX
IdeaRX is a company based in Chennai (India) founded in 2016 by Saravanan Vivekanandan. IdeaRX has raised $1.34 million across 3 funding rounds from investors including Dr. Agarwal's Eye Hospital, vidhay and Muthulakshmi Sankaralingam. IdeaRX offers products and services including ProfitAI and Hospital Buyers Club. IdeaRX operates in a competitive market with competitors including Medikabazaar, Impilo, Prodigo Solutions, Aknamed and GreenLight Medical, among others.
- Headquarter Chennai, India
- Founders Saravanan Vivekanandan
- Stage Minicorn
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Sectors
Healthcare
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Email
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Phone
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Website
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Social
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- Legal Name Idearx Services Private Limited
- Date of Incorporation 18 Jun, 2016
- Jurisdiction Chennai, Tamil Nadu, India
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Annual Revenue
$5.74 M (USD)229.5as on Mar 31, 2023
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Net Profit
-$655.87 K (USD)-104.21as on Mar 31, 2023
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EBITDA
-$249.72 K (USD)-4.08as on Mar 31, 2023
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Total Equity Funding
$1.34 M (USD)
in 3 rounds
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Latest Funding Round
$805.12 K (USD), Seed
Nov 05, 2021
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Investors
Dr. Agarwal's Eye Hospital
& 2 more
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Employee Count
Not available
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Products & Services of IdeaRX
IdeaRX offers a comprehensive portfolio of products and services, including ProfitAI and Hospital Buyers Club.
AI tool for optimizing hospital pharmacy profits and KPIs.
Platform for group purchasing and hospital partnerships.
Funding Insights of IdeaRX
IdeaRX has successfully raised a total of $1.34M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $805.12 thousand completed in November 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in IdeaRX
IdeaRX has secured backing from 3 investors, including institutional and angel investors. Prominent investors backing the company include Dr. Agarwal's Eye Hospital, vidhay and Muthulakshmi Sankaralingam.
| Investor | Description | Founded Year | Domain | Location |
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Chain of eye care hospitals
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Muthulakshmi Sankaralingam |
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Investor details for IdeaRX
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Investments & Acquisitions by IdeaRX
Investment portfolio details for IdeaRX
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- Transaction dates
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Financial Statements - IdeaRX
Detailed financials for IdeaRX
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- Profit trends
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Idearx Comparisons
Peer comparison for IdeaRX
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- Named peers
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Competitors of IdeaRX
IdeaRX operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Medikabazaar, Impilo, Prodigo Solutions, Aknamed and GreenLight Medical, among others.
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Online marketplace for medical supplies, equipment, and devices catering to healthcare providers
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Integrated logistics and data solutions for digital health are provided.
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Digital supply chain management solutions are provided for healthcare providers.
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Cloud and AI-based material management software for hospitals is offered.
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End-to-end cloud solution designed to streamline the introduction and evaluation of new medical technology for hospitals and physicians.
https://medium.com/@GreenLightMedical …
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SaaS platform is used for benchmarking hospital purchased services.
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Detailed competitors of IdeaRX
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Latest news on Idearx
Complete news archive for IdeaRX
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Frequently Asked Questions about IdeaRX
IdeaRX was founded in 2016 and raised its 1st funding round 1 year after it was founded.
IdeaRX is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Saravanan Vivekanandan is the current CEO of IdeaRX. They have also founded this company.
IdeaRX is a funded company, having raised a total of $1.34M across 3 funding rounds to date.
Annual revenue of IdeaRX is $5.74M as on Mar 31, 2023.
Platform to optimize hospital pharmacy and procurement operations. The company offers a range of services, including intelligent inventory management, assisted buying, and distribution management, to help hospitals eliminate costs and enhance productivity. It is tailored to hospitals, helping to optimize pharmacy key performance indicators leading to significant profit increases, enhance patient care, doctor engagement, and enhanced employee performance. It offers features such as AI-driven predictive forecasting and auto purchase order generation, healthcare industry database and manufacturer relationships, and more.
IdeaRX's top competitors include Medikabazaar, Impilo and GreenLight Medical.
IdeaRX offers ProfitAI and Hospital Buyers Club.
IdeaRX has 3 investors. Key investors include Dr. Agarwal's Eye Hospital, vidhay, and Muthulakshmi Sankaralingam.
The valuation of IdeaRX is $1.75M as of Nov 2021.