40UNDER 40

Prev Rank:

Dhaval Shah, Dharmil Sheth, 30, 30

Co-founders, Pharmeasy

Previous Rank :

Shah, a doctor, and Sheth (right), an engineer and serial entrepreneur, had a simple idea. They wanted to ensure that patients undergoing treatment for chronic diseases should have easy access to medicines. When it launched in 2015, PharmEasy was one of many startups delivering medicines online. Today it is one of the largest platforms in the business. In cities with warehouses, patients can expect to get their medicines delivered on the same day (if ordered before 2 p.m.), and PharmEasy delivers to 98% of the PIN codes across the country. With smart deployment of capital in building back-end operations and distribution partners investing in inventory, the Mumbai-based company has been able to more than double business each year. It also offers teleconsultation, a subscription-based healthcare service, and sample collection from homes for diagnostic tests. In a space fraught with rampant discounting to lure customers, PharmEasy says that 75% of its business makes money. In the next six months, it hopes that all its shipments will be profitable.