Healthtech startup Rio.ai, which is building an AI-powered quick-commerce platform for medicines and healthcare essentials, has raised Rs 43.08 crore in a pre-Series A funding round led by new investor Version One Ventures, with participation from existing investors Xeed Ventures, Good Capital and Amplify Partner.According to its regulatory filings accessed byEntrackr, Rio.ai’s board has approved the allotment of 7,130 compulsorily convertible preference shares (CCPS) at an issue price of Rs 60,415 per share to raise the aforementioned amount.Version One Ventures led the round with an investment of Rs 21.30 crore, followed by Xeed Ventures with Rs 11.84 crore and Good Capital Fund II with Rs 9.47 crore, while Amplify IV PCC invested Rs 47 lakh.According toEntrackr’sestimates, the company’s post-money valuation stood at around Rs 170 crore.Following the latest allotment, Xeed Ventures holds a 21.11% stake in Rio.ai, followed by Good Capital at 17.07% and Version One Ventures at 12.86%. Co-founders Ankur Agrawal and Amit Ahuja hold 17.50% each. The fresh capital will be used to meet general operating and working capital requirements, fund capital expenditure, strengthen the company’s capital base, and support the expansion of its business operations.. A Moneycontrol report had earlier said that Rio AI was in talks to raise around $5 million from Binny Bansal, Canada-based funds, and other investors. Founded by Ankur Agrawal and Amit Ahuja, healthtech startup Rio.ai is building an AI-powered quick-commerce platform for medicines and healthcare essentials. Its Rio Health platform enables users to order medicines and other healthcare products via WhatsApp, with deliveries in 15–30 minutes. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
