PharmEasy to Bag 100M USD, in Talk with Naspers, TPG

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. 

+ posts

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.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

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.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

The china-based threat activity group, RedEcho, targets at least a dozen Indian organizations, including the Indian power sector.

Report: Chinese Hacker Groups Target Indian Organisations Amid the Border Tension

Since mid-2020, Chinese State-sponsored groups intruded into the computer networks of at least a dozen Indian state-run organizations, mostly power utilities and load dispatch...
The SEC stated that it has temporarily halted trading in 15 companies amid concerns that their stock prices were artificially inflated.

US Watchdog Halts Trading of 15 Companies, Sharpens Gaze on ‘Suspicious Social Media Activities’

The United States security regulators suspended trading in the securities of 15 companies on Friday because of 'questionable trading and social media activity.' It...
Facebook recently launched its short video entertainment format platform known as bars that cater to a specific community called rappers.

How the launch of Facebook’s Bars will be a game changer for aspirants in...

The world's hands at entertainment are getting saturated, and there is no doubt about it. This market's global landscape had changed dramatically since the...
The IPO season is here, and many companies have reached for the big deal on the NYSE. DigitalOcean also aims to reach the NYSE boards and introduce their IPO by going public.

DigitalOcean goes public in its first ever IPO aiming for the NYSE

With a range of rationales, digital transformations are carried out. Some stem from the need to replace IT systems that have reached the end...
All successful companies need better tools. Here is the list of today's best product management tools to cover all your business requirements.

Essentials Project Tools You Need in 2021

Project managers and product managers share similar work responsibilities, which is beyond just sharing similar titles. Both roles work in tandem to successfully deliver...
The Indian public sector is undergoing a new shift. Since time, many of these sectors have worked for the government and made the extra dime public.

How the Privatisation move might put the Modi government afront in public benefit

A crisis on an unprecedented scale is facing the Indian banking sector. When more facts are brought to light, the problem becomes peculiar. You...
Disruptors have been challenging big logistics players for years and the shift towards ecommerce has created a fertile ground for logistics startups.

Transformation of Indian Logistics Tech Ecosystem

The logistics industry is the backbone of every economy. The growth of the Indian ecommerce sector enabled startups dealing in logistics to expand their...
India's healthcare sector is booming, thus giving many opportunities to establish a unified system that contributes to better health.

India’s healthcare startup ecosystem is booming, as Government prioritises on better systems

India is a country that is democratic and It is the government's responsibility to provide primary health care for individuals. India is a large...