It seems like Ola want to take control over the entire app and online industry. After entering the food tech industry with Foodpanda, Ola now might also enter the e-pharmacy industry by Buying Indian start-up Myra. Myra is a start-up which offers medicines online and delivering of medicines to doorsteps just like Pharmacy.
Myra is not a big name in e-pharmacy industry till the date. The startup is run by metarain software solutions PVT Ltd, a company in Bengaluru. The start-up currently serves in selected areas of Mumbai and Banglore. Myra was founded by Faizan Aziz in January 2013. Myra has been doing a good job in raising funds, the startup has so far raised $10 million. The startup in the recent funding round in September secured 8.7 crores additional funding from the existing investors. Other than the institutional investors, some profound names who invested in Myra involve Akshay Kothari(Former LinkedIn India CEO), co-founder of Payu India, CEO of Ola mOney Nitin Gupta, Quikr chief executive openly chulet, Co-founder of Lime road Prashant Malik and some other prominent names. These all people have invested in the startup. This shows how powerful the startup with such big names investing in it.
Ola money CEO itself is one of Myra’s investors. Another interesting thing being, Matrix partner is investor pf both oLa and Myra. So fro this information it seems like Ola and Myra have been knowing each other from long. Ola has been doing a great job online cab booking industry and giving a tough competition to Uber, which is an international Giant n cab booking service.
Ola as to compete with Uber’s treats, in 2017 acquired Foodpanda. While Foodpanda has to compete not only with Ubereats but also with some well-established name in the industry like Swiggy and Zomato. Ola also operates its taxi service n different countries including New Zealand, Australia, United Kingdom and India of course. Ola provides a different type of services in India like auto booking, two wheeler services and cab service of course. Ola is also going to invest $100 million in Vogo, a scooter sharing service provider.
Many people have filed petitions against the e-pharmacy companies in past saying the online selling of medicines is against the drugs and cosmetics rule 1945.
Recently Mint reported that a deal of Ola acquiring Myra can come to an end at the last of this month. Ola has been continuous to Myra to come to an end of the deal says reports. If Ola acquires Myra then this can be a problem for other players in the industry like pharmacy and others. Uber is one of the top competitors of Ola in every sector thus if this deal happens and Ola acquires Myra then we could Uber also jumping into the e-pharmacy industry.