PharmEasy raises $323 Million in Series E funding round
- ByManjeet Singh | October 18, 2021
API Holdings, the parent company of the e-pharmacy startup PharmEasy, has become the first Indian e-pharmacy to join the unicorn club. In a Series E funding round, API Holdings raised $323 Mn from Prosus Ventures (formerly Naspers) and TPG Growth at a valuation of $1.5 Bn.
The funding round involved a combination of primary and secondary share sales, and API Holdings’ existing investors included Temasek, CDPQ, LGT Lightrock, Eight Roads & Think Investments.
PharmacyEasy was founded by Doctor Dhaval Shah and Dharmil Sheth in 2015. Among its services are teleconsultations, medicine deliveries, and sample collections for diagnostic tests. The company caters to the chronic care segment.
In the next 12 months, API Holdings will increase its relationships and penetration of existing geographic markets in order to reach over 100,000 pharmacies. Further, it will allow the company to expand its platform to provide a wider range of services to healthcare practitioners and patients, creating a better healthcare ecosystem for all Indians.
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