BanglaMeds, a health tech startup of Bangladesh, was acquired by the country’s leading grocery delivery platform Chaldal. The acquisition amount remains undisclosed, while the CEO of BanglaMed, Gazi Musayab Raffan, posted an announcement of the acquisition on his social media platform yesterday (Dec 18, 2021). Chaldal will hold the ownership of BanglaMed, but the company will still be operated by its current CEO Mr. Raffan.
BanglaMeds is an E-pharmacy company providing healthcare solutions and selling prescription as well as OTC drugs to the people of Bangladesh. Gazi Musayab Raffan delightedly announced the acquisition in his social media post. He thanked everyone who supported his entrepreneurial journey. BanglaMed started its journey back in 2017 as an E-pharmacy; with the acquisition, BanglaMed intends to expand further across the country in the next few years.
Chaldal was founded as an e-commerce site back in 2003 by Waseem Alim, Tejas Viswanath and Zia Ashraf. Recently, Chaldal has raised $10 million in its Series C round of funding. With over five funding rounds, Chaldal raised total funding of $24.8 million. According to TechCrunch, It has generated $40 million in revenue and performed 2.5 million orders over the past 12 months, growing about 120% year-over-year. In addition, this digital grocery platform expanded its logistics network in Dhaka, Narayanganj, Chattogram, Jessore, and Khulna.