Akshat Nayyar (Truemeds): 10 Key Things You Must Know

Overview

Akshat Nayyar is a prominent Indian entrepreneur, best known as the co-founder and CEO of TrueMeds, a fast-growing Mumbai-based healthtech startup revolutionizing access to affordable, high-quality generic medicines in India. With over 15 years of experience in the pharmaceutical industry and consulting, Nayyar identified the critical gap in medicine affordability and leveraged technology and innovation to bridge it. Under his leadership, TrueMeds has emerged as a trusted online pharmacy and telehealth platform, delivering significant cost savings to millions of chronic patients across India. This article explores key aspects of Akshat Nayyar's career, TrueMeds' business model, funding journey, and its impact on the Indian healthcare ecosystem.

1. Early Life and Education of Akshat Nayyar

Akshat Nayyar holds a B.Tech degree from the Visvesvaraya National Institute of Technology, Nagpur, and completed his MBA from the Indian School of Business (ISB), Hyderabad. After graduation, he moved to the United States to work in consulting, serving clients like BMW and Rolls-Royce. This experience helped him hone skills in innovation and problem-solving. Subsequently, he returned to India and joined Abbott, where he led the Project Management Office for their billion-dollar pharmaceutical business. This role exposed him to the healthcare affordability challenges that would fuel his entrepreneurial ambitions.

2. Founding and Vision of TrueMeds

In 2019, Akshat Nayyar, along with Dr. Kunal Wani, co-founded TrueMeds with the mission to democratize medicine purchase in India by making affordable generic medicines accessible to patients nationwide. Recognizing that over 80% of Indian patients discontinue full medicine courses due to costs, TrueMeds focuses on providing clinically equivalent, quality generic alternatives to expensive branded drugs, often saving customers up to 50-70% on medicines. The platform integrates proprietary algorithms, doctor consultations, and robust supply chain management to deliver value and trust.

3. TrueMeds’ Business Model and Technology

TrueMeds operates as an e-pharmacy and telehealth platform that recommends best-value alternatives to branded medicines through a proprietary AI-driven recommendation engine. Customers upload prescriptions, and TrueMeds’ system suggests equivalent generic brands manufactured by top-quality producers. The company also offers free online consultations with empaneled doctors to educate and support patients in choosing substitutes with the same therapeutic effect. Efficient logistics and a network of fulfillment centers enable medicine delivery across more than 20,000 postal codes in India, with a focus on tier-2 and smaller cities.

4. Accelerated Growth and Funding Milestones

TrueMeds has rapidly scaled since inception, reaching over 3 million customers to date and achieving revenue of approximately Rs 510 crore (around $65 million) FY 2025. It processes nearly 600,000 monthly orders with a team of about 3,000 employees. The company secured $85 million in Series C funding in 2025, led by Accel and Peak XV Partners, with participation from WestBridge Capital and Info Edge Ventures, boosting its valuation to over $400 million. Earlier funding rounds include $22 million Series B led by WestBridge and Series A of $5 million led by InfoEdge Ventures and others. This capital infusion supports expanding fulfillment centers, technology development, and entry into diagnostics services.

5. Co-Founder Dr. Kunal Wani’s Role

Dr. Kunal Wani, a medical doctor with an MBA, is the co-founder of TrueMeds alongside Akshat Nayyar. Bringing over 14 years of experience in the Indian healthcare sector, including roles at Abbott and pharmaceutical companies, Dr. Wani focuses on medical affairs, digital innovation, and ensuring clinical credibility within TrueMeds. His medical expertise complements the technology-driven approach, especially in patient education and clinical guidance.

6. TrueMeds vs. Market Competitors and Industry Position

TrueMeds competes with other Indian e-pharmacies such as Tata 1mg, PharmEasy, and Netmeds. However, TrueMeds differentiates itself through its emphasis on affordable generics, patient education, and deep penetration into underserved markets beyond metro areas. Its strategy to focus on long-term care patients with planned medicine purchases contrasts with competitors emphasizing quick commerce delivery. This focus has enabled sustainable growth profitability and customer retention.

7. Impact on Healthcare Affordability and Access in India

In a country where 70% of healthcare spending is out-of-pocket and chronic disease medication costs form a significant burden, TrueMeds aims to alleviate financial stress for millions. By enabling generic substitution with verified medicines from top pharmaceutical manufacturers and providing transparent pricing, the company has facilitated savings exceeding hundreds of crores annually. Its telehealth consultations help overcome misinformation and build trust around generics, empowering consumers to make informed health choices.

8. Challenges and Consumer Perception

Despite growing popularity, some users express concerns about substitutes, delivery charges, or order management, a challenge common in online pharmacy sectors. Forums indicate mixed reviews on substitute medicine quality and service experience. TrueMeds has addressed this through strict quality controls, efficient customer support, and plans to expand fulfillment infrastructure to lower logistics costs. Moreover, campaigns and patient education continue to play a vital role in reducing resistance to generic medicines.

9. TrueMeds’ Funding and Investor Backing

TrueMeds has successfully attracted funding from reputed investors such as Accel India, Peak XV Partners, WestBridge Capital, Info Edge Ventures, and others. Accel India emerged as a lead investor in Series C round, raising $44 million, with subsequent tranches increasing capital to $85 million. These investors endorse TrueMeds' vision and its differentiated scalable business model in the large, growing Indian healthtech sector. TrueMeds' strong performance and market position reflect investor confidence.

10. Netmeds Founder Pradeep Dadha and Industry Context

For perspective, Pradeep Dadha is the founder and CEO of Netmeds, a pioneering Indian online pharmacy based in Chennai, acquired by Reliance Retail. Netmeds offers a broad range of prescription medicines and healthcare products across India. With over a decade of experience, Dadha has been instrumental in driving digital healthcare accessibility in India, complementing industry contemporaries like Akshat Nayyar. Both entrepreneurs operate in India's rapidly evolving e-pharmacy market addressing affordability and accessibility challenges.

Conclusion

Akshat Nayyar’s journey from a pharmaceutical executive to a visionary entrepreneur leading TrueMeds highlights the transformative potential of technology-driven healthcare solutions. By focusing on affordable, quality generics, and integrating telehealth, TrueMeds addresses a critical gap in India’s healthcare value chain. Supported by substantial funding and a robust operational model, the company is poised to expand its impact exponentially, serving millions across diverse geographies. Akshat Nayyar’s work exemplifies innovation aimed at democratizing healthcare, inviting all stakeholders to rethink medicine affordability and accessibility for a healthier India.