PharmEasy Raises $300 Million at around $2.5-2.75 Billion Valuation

PharmEasy is a Mumbai-based online pharmacy chain. The company offers its customers services of teleconsultations, delivery of medicines, and collection of diagnostic tests. Moreover, the start-up helps people to contact local pharmacy stores for medical needs.

General Atlantic, Canadian fund CPP Investments, and Abu Dhabi’s state funds ADIA are considering investments of $200-300 million. Among other investors are such existing investors as TPG Growth, Prosus Ventures, and Temasek with $70-100 million investments. Last October, PharmEasy had a pre-IPO round of $350 million. As of now, IPO is postponed.

PharmEasy, Mumbai, India, was founded by Dhaval Shah, Dharmil Sheth, and Mikhil Innani in 2015. PharmEasy is an e-commerce platform that provides people with medicine-related goods in 710 cities. The client can upload its prescription and send it to a convenient drugstore. PharmEasy tries to offer both high-quality and budget-friendly products. The company aims to digitize everything from doctor’s appointments to medicine delivery while establishing a partnership with more than 150 companies. The API Holding, a parent company of PharmEasy, sells to independent retailers, including PharmEasy retailers, connects retailers and distributors, distribution to hospitals (Aknamed), diagnostic services (Thyrocare), EMR/EHR platform for doctors (DocOn), ERP technology product for retailers (Marg, Redbook) and the Healthcare Super App (PharmEasy) which integrates all consumer services and enables fulfillment.

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