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PharmEasy to Bag 100M USD, in Talk with Naspers, TPG
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The online pharmacy company, PharmEasy is in talks with Naspers and TPG for 100 million USD fundings. So far, the company has secured 328 million USD in over seven fundraise. It last confirmed 220 million USD in November 2019. The talks came less than a month after CCI approved PharmEasy and Medlife merger.

PharmEasy (1), the Mumbai-based online pharmacy is in talks with Naspers, the South African technology and media conglomerate, and TPG, a private equity firm based in the US. The startup is in the negotiations with both firms to invest around 100 million USD each. Reportedly, the proposed infusions are likely to come at a pre-money valuation of 1.2 billion USD.

The funding talks came less than a month after the CCI, Competition Commission of India approved a merger between PharmEasy and Medlife, its smaller rival. Notably, the coalition came after big players’ entry, Reliance, and Amazon in the sector, holding a tough competition. 

So far, the startup has secured 328 million USD in seven funding rounds. The last fundraiser of the company was in November 2019, where it raised 220 million USD. Its investors include Bessemer Venture Partners, Temasek, Nandan Nilekai. As per reports, the company was valued at 700 million USD during the last infusions. Orios Venture Partners and Eight Roads are the early backers of PharmEasy. 

 

PharmEasy Offers Online Medicines, Healthcare Products, and Booking Lab Tests

Last year in August, PharEasy secured 100 million USD from Temasek from Singapore at 650 to 700 million USD valuation. In the same month, it also completed equity fundraise of 100 to 120 million USD led by new investors such as CDPQ and LGT. 

The merger between PharmEast and Medlife is observing API Holdings. PharmEasy, the parent entity, acquired 100% equity shares of Medlife. In return, the promoters of Medlife received a 19.95% stake in the combined firm. 

The pharma sector in India is observing a surge since the coronavirus pandemic. It has made giants like Amazon and Reliance enter the pharmacy space and Flipkart, planning to foray into the sector. 

Reliance Retail entered the online pharmacy delivery space by acquiring a 60% equity stake in Netmeds for 83 million USD or 620 crores INR. With the acquisition, the company also received 100% ownership of Tresara Health Pvt Ltd, Netmeds Marketplace Ltd, Dadha Pharma Distribution Private Limited, subsidiaries of Netmeds. All these subsidiaries are collectively known as Netmeds and are involved in pharma distribution, sales, business support, and services. 

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Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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Rucha Joshi
Rucha Joshi
Rucha Joshi is fueled by her passion for creative writing. She is eager to turn information into action. With her hunger for knowledge, she considers herself a forever student. She's currently working as a content writer and is always interested in a challenge.

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