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Rio Health raises $4.5 million in Pre-Series A round led by Version One Ventures
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Business Standard
business-standard.com

Rio Health raises $4.5 million in Pre-Series A round led by Version One Ventures

Rio Health, a platform for rapid commercial servicing of medicines and essential healthcare goods, announced on Thursday that it has raised $4.5 million (equivalent to 43.08 crore rupees) in a Pre-Series A funding round. The round was led by Version One Ventures. Existing investors Xeed Ventures, Good Capital, and Amplify participated in the fully closed equity round.

With the funds raised, Rio Health plans to expand its presence in the Delhi-NCR region, increasing its network from three to over 15 dark stores, as well as strengthening its technological infrastructure responsible for ordering, inventory management, and delivery.

Over the next nine to twelve months, the company aims to achieve an annual turnover exceeding 150 crore rupees. Prior to this round, Rio Health had already raised 19.16 crore rupees in previous rounds, bringing the total amount raised to 62.24 crore rupees.

Currently, Rio Health processes over 30,000 orders monthly. The average order value ranges between 600 and 700 rupees, with nearly 80 percent of orders coming from regular customers.

Rio Health was founded by Ankur Agrawal and Amit Ahuja. The company delivers medicines and health products across Delhi-NCR within 20 to 30 minutes. Customers can place orders via voice or text in Hindi, English, or Hinglish, or by uploading a photo of a prescription. Rio Health's AI-driven system identifies the prescribed products and generates the order, which is then verified by a licensed pharmacist.

Each Rio Health dark store serves a radius of approximately three kilometers. The company uses district-level demand data to forecast the needs for various medications in each zone and replenishes stock accordingly in the stores. Rio Health offers over 20,000 product items, and rare medicines can be obtained through a network of distributors.

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South African retail sales rose by 3.4% in July amid household spending recovery
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iol.co.za

South African retail sales rose by 3.4% in July amid household spending recovery

Retail sales in South Africa showed a year-on-year increase of 3.4% in July, indicating a strengthening of household spending at the start of the third quarter. These figures exceeded all expectations, showing a real growth of 3.4% at the beginning of the third quarter.

The July data followed a moderate year-on-year growth of 1.1% in June; with seasonal adjustments, retail sales increased by 2.5% month-on-month. Sales growth was observed in almost all sectors, except for the equipment, paint, and glass segments. The general dealer category made the largest positive contribution.

This growth correlates with a BER survey which showed an improvement in trading conditions for food and grocery retailers in 2026.

Inflation Easing

Inflation easing likely influenced household spending in July. According to PayInc, the decrease in fuel prices positively affected real net wages, which grew by 0.4% month-on-month according to the PayInc Net Wage Index.

However, Investec economist Lare Hodges warns that rising international oil prices are creating upward pressure on inflation. Hodges noted: 'Renewed tensions in the Middle East have driven the price of Brent crude above $107 per barrel, which is likely to lead to further increases in fuel prices and exert upward pressure on inflation.'

He added: 'Consequently, the probability of monetary policy tightening at next week's MPC meeting has increased, which will put additional pressure on households.'

Improvement in Economic Activity

A potentially positive signal for the economy was the improvement in economic activity in August, according to the PayInc Economic Activity Index, which grew by 0.8% month-on-month in August. This index, which tracks the real value of money circulating in the national electronic payment system, was also 2.7% higher than a year earlier.

Independent PayInc economist Eliza Kruger stated: 'The improvement in July and August is encouraging and suggests that the economy may return to growth in the third quarter, albeit at a moderate pace.' However, she stressed that 'the economy is far from safe, as renewed fuel price pressures and persistent uncertainty pose risks of decline.'

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