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1558%
Raised
£5,312,390
Investors
895
Target
£340,900
Equity
25.96%
Pre-money valuation
£15,151,515

NowRx is a new model for pharmacy utilizing robotics, software automation and logistics to provide free same day delivery of prescription medications in the USA. Launched in Silicon Valley in 2016, the company has delivered 28,000 prescriptions to 5,900 customers and generated $3 million in revenue.

  • 2017 revenues were $2.49m, an increase of 273.5% as compared to 2016
  • The first app approved to fill prescriptions on Google Home
  • More than 1,300 referring physicians, an increase of 140% over 2016
  • $2 million already invested in current round
Information The company is incorporated and based in the USA. The progress bar above includes £4,958,460 raised via a concurrent offering being conducted abroad. Investments are for a beneficial interest in equity in this US-based company that will be held on behalf of Investors by a Nominee. Investors agree to the Subscription Agreement and its accompanying exhibits in the documents section below. The Subscription Agreement contains certain representations and warranties to NowRX Inc. See the Investment FAQ's and Legal Explanation Document for more details including exchange rate explanation. Investors should seek their own tax advice regarding investment in US securities.

Idea

Traditional retail pharmacy is inconvenient and time-consuming. The large pharmacy chains have historically focused on in-store pickup of prescription medications, attracting customers into large stores filled with other products (vitamins, beauty products, food etc). We believe the large pharmacy chains are ill-equipped to develop the necessary technology, logistics and customer service processes to meet customers demand for convenience, and furthermore, they are incentivized against free same-day home delivery.

We re-conceive retail pharmacy by establishing highly automated, local warehouse facilities within customer communities to provide free same-day delivery of medications and over-the-counter items to the customer. NowRx leverages the latest in robotics, software automation and logistics to provide the most convenient customer experience available. By removing the dependency on large retail stores, NowRx operates with significantly lower fixed overhead expenses and can absorb delivery costs so the customer doesn't have to.

Retail pharmacy is a $280 billion industry in the US and $1 trillion globally. We believe the bulk of this market will soon be forced to adopt the same free same-day delivery model. Pressure continues to mount on industry players to make strategic build vs. buy decisions to address this new reality.

Disclosures: company has loans, 2017 net loss was $1.09m

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Risk warning

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.