After this round of funding, the company will be valued at $1.8 Billion.
PharmEasy an online pharmacy platform that became a unicorn after the last round of funding is set to raise money from New York-based Tiger Global and B Capital, owned by Facebook co-founder Eduardo Saverin. After this round of funding, the company will be valued at $1.8 Billion.
B Capital is expected to pick up secondary shares from existing investors in the company, and Tiger Global is expected to pump in primary capital. Everstone Capital, one of PharmEasy’s early backers is said to be looking to divest a part of its holding in the company for about $40 million. This round of funding comes at a time when PharmEasy is planning its initial public offering at a valuation of $3 billion.
The online pharmacy is making monthly sales of around Rs 300 crore presently. It has also just completed the acquisition of Medlife, its biggest rival, making it the largest e-pharmacy platform in India.
Source: Business World