20 Growing Pharmacy Companies & Startups in 2024

by Josh Howarth
May 14, 2024

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The global pharmaceutical industry is expected to reach $1.15 trillion in 2024. Data suggests that the annual growth rate will increase into 2028 at 6.19%, resulting in an astounding market volume of $1.47 trillion. 

With changing healthcare landscapes and the onset of new technologies, such as machine learning and artificial intelligence, there has been a steep rise in the number of pharmacy startups.

We’ve rounded up some of the best pharma startups to keep an eye on in 2024.

1. Fullscript


5-year search growth: 390%

Search growth status: Exploding

Year founded: 2011

Location: Ottawa, Canada

Funding: $267M (Private Equity)

What they do: Fullscript is a digital platform that provides integrative and functional medicine practitioners with a comprehensive solution for prescribing and dispensing professional-grade supplements and other natural health products. The platform offers a user-friendly interface for managing patient prescriptions, ordering products, and accessing clinical resources. Fullscript also provides compliance support and product fulfillment services, making it a popular choice for practitioners looking to enhance their patient care and practice efficiency.

2. Capsule

5-year search growth: 126%

Search growth status: Regular

Year founded: 2016

Location: New York, New York

Funding: $570M (Series D)

What they do: Capsule is a digital pharmacy startup that delivers medications directly to customers' doors. The platform offers a user-friendly app for managing prescriptions, as well as features for transferring existing prescriptions, scheduling refills, and communicating with pharmacists. Capsule also offers competitive pricing, free same-day delivery in select cities, and personalized support to make the pharmacy experience more convenient and customer-friendly.

3. Capital Rx

5-year search growth: 2,300%

Search growth status: Peaked

Year founded: 2017

Location: New York, NY

Funding: $253M (Corporate Round)

What they do: Capital Rx is a pharmacy benefit management (PBM) platform that provides a transparent and cost-effective solution for managing prescription drug benefits. The platform offers innovative pricing models and a user-friendly interface for managing formularies, claims processing, and member engagement. Capital Rx's unique approach to PBM has earned it recognition as a disruptor in the industry, and has helped businesses save money on healthcare costs while improving the quality of care for their members.

4. MRM Health

5-year search growth: 2,500%

Search growth status: Peaked

Year founded: 2020

Location: Ghent, Belgium

Funding: $17.3M (Grant)

What they do: MRM Health is a biotech company that focuses on microbiome-based therapeutics. Their proprietary technology aims to combine specific microbial strains into Optimized Consortia. Furthermore, a unique manufacturing and optimization process works toward creating a single drug substance. MRM Health received $14M in 2020 in its collaboration with DuPont Nutrition & Biosciences.

5. EyeNetra

5-year search growth: 59%

Search growth status: Regular

Year founded: 2011

Location: Cambridge, MA

Funding: $7.1M (Series A)

What they do: EyeNetra aims to make eye exams more accessible and convenient. The company offers three devices in their Netra kit, including an autorefractor, handheld phoropter, and a digital lensometer. Aside from that, they offer an online portal for keeping track of and recording user readings. EyeNetra claims that its products are active in 133 countries.

6. PharmEasy

5-year search growth: 35%

Search growth status: Peaked

Year founded: 2015

Location: Mumbai, India

Funding: $1.7B (Undisclosed)

What they do: As a digital health startup, PharmEasy is looking to simplify healthcare in India. Through various partnerships and providers, the startup has created a steady supply chain that allows users to receive medicine, tests, consultations, and healthcare products from vetted pharmacies and clinics.

Their website shows that they have a presence in over 1,000 Indian cities and 80,000+ pharmacy partners. In April 2024, the startup raised $216 million in venture funding, bringing its total funding to over $1.7 billion.

7. Tricog Health

5-year search growth: 212%

Search growth status: Regular

Year founded: 2014

Location: Singapore, Singapore

Funding: $23.5M (Series C)

What they do: Tricog Health is a predictive healthcare analytics firm that provides virtual cardiology services to remote clinics. The startup is working toward reducing cardiac deaths using its product, InstaECG. Used by more than 5,000+ active healthcare professionals, InstaECG can identify over 200+ cardiac conditions across several hospitals and clinics. Tricog Health raised $8.5M in a Series B2 funding round in April 2023.

8. Lyndra Therapeutics

5-year search growth: 14%

Search growth status: Regular

Year founded: 2015

Location: Watertown, MA

Funding: $284.6M (Series E)

What they do: Lyndra Therapeutics is a drug development company that aims to develop longer-lasting oral dosage medicines. The company's LYNX platform technology makes it possible to create oral medications that can maintain their shape after consumption for a sustained release over a week or longer.

The startup recently raised $101 million in Series E funding to finish its Phase III trial for the schizophrenia and schizoaffective disorder drug LYN-005

9. NeilMed

5-year search growth: 90%

Search growth status: Regular

Year founded: 2000

Location: Santa Rosa, California

Funding: Undisclosed

What they do: NeilMed is a pharmaceutical company that develops all-natural, drug-free nasal care products. Most notably, NeilMed manufactures and supplies LVLP saline nasal irrigation systems to treat sinus symptoms. The company's two flagship products are the NeilMed SINUS RINSE and NeilMed NasaFlo Neti Pot. Currently, they sell over 40 product types for nasal and sinus care. 

10. Eagle Genomics

5-year search growth: 400%

Search growth status: Regular

Year founded: 2008

Location: Cambridge, United Kingdom

Funding: $43.5M (Series Unknown)

What they do: As an enterprise software solutions company, Eagle Genomics aims to establish a platform for exchanging scientific data-derived assets. The startup is working toward creating a platform-driven ecosystem where scientists and companies can use, share, and utilize microbiome data to create pharmaceuticals. Eagle Genomics won the AI Champion title in the Business Weekly 2021 awards.

11. Minoryx Therapeutics

5-year search growth: 8%

Search growth status: Regular

Year founded: 2011

Location: Barcelona, Spain

Funding: $134.6M (Series C)

What they do: Minoryx Therapeutics focuses on drug discovery and development for severe central nervous system diseases. The startup is currently focusing on its novel treatment, Leriglitazone, a selective PPAR gamma agonist. The clinical-stage treatment is expected to work against several orphan CNS disorders. To date, the company has raised over $134 million in funding. 

12. Axial Therapeutics


5-year search growth: 31%

Search growth status: Regular

Year founded: 2016

Location: Woburn, MA

Funding: $110.9M (Series C)

What they do: As a biotech startup, Axial Therapeutics utilizes the microbiome to develop drugs for neurological disorders and diseases. Their work focuses on the development of small-molecule drugs that target gut microbiology and help impact the pathology, symptoms, and progression of various neurological disorders. Recently, Axial Therapeutics raised $37.25M in Series C funding.

13. ROME Therapeutics

5-year search growth: 2%

Search growth status: Exploding

Year founded: 2020

Location: Cambridge, MA

Funding: $199M (Series B)

What they do: Rome Therapeutics aims to develop treatments for cancer and autoimmune diseases by exploring the repeatome. The company’s belief is that 60% of the human genome that has repetitive sequences of nucleic acid can be targeted through specialized medicine. Rome Therapeutics raised $77M in Series B funding by Section 32 in September 2021.

14. 3Z Pharmaceuticals

5-year search growth: 17%

Search growth status: Regular

Year founded: 2008

Location: Reykjavik, Iceland

Funding: $3.7M (Seed)

What they do: Focusing on CNS disorders, 3Z Pharmaceuticals discovers novel drug candidates using behavioral genetics and disease modeling. The startup also focuses on drug repositioning - researching existing licensed drugs to figure out new medical avenues and uses. In its most recent seed funding round, 3Z Pharmaceuticals raised $2M.

15. DocStation

5-year search growth: 200%

Search growth status: Regular

Year founded: 2017

Location: Austin, Texas

Funding: $3.4M (Seed)

What they do: DocStation is a software platform that connects pharmacies and health plans all in one place. Pharmacies and clinical practices use DocStation to store patient health records, submit medical claims electronically, schedule appointments, and automatically bill for services. Today, DocStation serves over 1 million patients and provides support for 1,000+ retail pharmacy locations.

16. MAYD Group

5-year search growth: 123%

Search growth status: Regular

Year founded: 2021

Location: Hamburg, Germany

Funding: $59.2M (Series A)

What they do: As a medication management solution provider, MAYD helps users quickly find information on healthcare products. The startup partners with small-scale pharmacies to manage localized deliveries. MAYD received $30M in Series A funding from 468 Capital and others.

17. Venus Remedies

5-year search growth: 48%

Search growth status: Peaked

Year founded: 1989

Location: Panchkula, India

Funding: Undisclosed

What they do: Venus Remedies is one of the largest manufacturers of meropenem antibiotics in India. The startup is responsible for the research and development of various products, including antibiotics, antihistamines, oncology drugs, and anti-infectives. Most recently, in October 2023, Venus was granted marketing approval for six chemotherapy drugs. This moves their total to 525 oncology product approvals across 76 countries. 

18. Truepill


5-year search growth: 340%

Search growth status: Peaked

Year founded: 2016

Location: Hayward, CA

Funding: $255.4M (Series D)

What they do: Truepill is a digital health platform that provides end-to-end solutions for the development, delivery, and management of direct-to-patient healthcare products and services. The platform offers a variety of services, including telehealth, pharmacy fulfillment, and custom packaging and labeling, among others. Truepill's scalable and customizable solutions make it a popular choice for healthcare providers, payers, and other businesses looking to expand their digital health offerings and improve patient access to care.

19. Alto Pharmacy

5-year search growth: 390%

Search growth status: Regular

Year founded: 2015

Location: San Francisco, California

Funding: $680M (Series F)

What they do: Alto Pharmacy is a digital healthcare company that provides a modern and personalized pharmacy experience. The platform offers a variety of services, including free delivery, medication management, and 24/7 support from licensed pharmacists. Alto Pharmacy's user-friendly app and online platform make it easy to manage prescriptions and access quality care from the comfort of one's own home.

20. Exo Therapeutics

5-year search growth: 1,500%

Search growth status: Peaked

Year founded: 2020

Location: Cambridge, MA

Funding: $103M (Series B)

What they do: As a small molecule drug discovery and development company, Exo Therapeutics focuses on utilizing druggable enzymes. The startup aims to modulate enzyme activity in oncology. Their ExoSight platform helps develop a pipeline of potent drug candidates that bind exosites. This helps reprogram enzyme activity, leading to a precise therapeutic effect. Exo Therapeutics recently raised $78M in Series B financing.


That concludes our list of the top pharmacy startups transforming healthcare right now.

The introduction of AI-powered diagnostics, clinical trials, and drug development systems has brought a new wave of biopharma advancements.

It’s safe to say that many new pharma startups will launch as the demand for new drugs, vaccines, and therapies continues to rise.