Saveo raises $4.5 million in funding at $50 million valuation

Saveo, a B2B e-commerce marketplace for Indian pharmacies, on Wednesday said it has raised $4.5 million in a venture round co-led by Matrix Partners, Gunosy Capital and 4point0 Health Ventures. Existing investors LC Nueva, Jetty Ventures, Ocgrow Ventures, Capier Investments, RTP Global, India Quotient, and Incubate Fund also participated in the round.

The latest round valued the B2B startup at $50 million, it said in a statement. The company had earlier raised $4 million in seed round in January 2021, followed by $4.5 million convertible in January 2022.