Funding

PharmEasy raises $350 million as it gears up for an IPO at a $5.6 billion valuation

PharmEasy has raised $350 million or about ₹2,600 crores ahead of its initial public offering (IPO). The company is underway to file its draft red herring prospectus (DRHP) soon in order to flag off the public issue.

The company raised nearly $204 million (more than Rs 1,505 crore) in primary funding from Singapore’s Amansa Capital, Blackstone-backed hedge fund ApaH Capital, US hedge fund Janus Henderson, OrbiMed, Steadview Capital, Abu Dhabi’s sovereign wealth fund ADQ, hedge fund Neuberger Berman and London’s Sanne Group, it added citing documents.

The 20 senior employees who bought shares worth $5 million as part of the secondary sale while early investors sold their stakes in the firm and IIFL’s tech fund has picked up some stake, it said.API Holdings Ltd (API), the parent company of PharmEasy has also raised $130-$140 million through a secondary share sale, taking its post-money valuation to $5.6 billion, the report added.

Based in Mumbai, Founded in the year 2015 by Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia, and Siddharth Shah —PharmEasy is a pharmacy made easy! Started with the sole purpose of making healthcare accessible and affordable to all with the highest savings in the shortest time possible.

Delivering Medicines in 1000+ cities in India, covering 22000+ pin codes and diagnostic test services across Mumbai including Thane, Navi Mumbai, Kalyan & Dombivali, Delhi with Noida, Gurgaon, Faridabad & Ghaziabad, Chennai, Pune, Ahmedabad, and Gandhi Nagar, Surat, Vadodara, Lucknow, Kolkata, Hyderabad, Bengaluru, and Jaipur.

Ravi Tilekar

Share
Published by
Ravi Tilekar

Recent Posts

Murugappa Group Invests in IIT-M Startup

An IIT Madras-based startup Aerostrovilos Energy, has raised around RS. 3.5 crores in as seed…

2 hours ago

$18 million Raised by SAAS Startup Rocketlane

A Mumbai-based SAS (software as a service ) Startup, Rocketlane has raised $18 million, which…

2 days ago

Recruitment startup Kula raises $2.7 million

the recruitment automation platform kula announced that the Company raised $2.7 million funding from venture…

3 days ago

Asia’s richest person Mukesh Ambani buys robotics startup to compete in the tech industry

Billionaire Mukesh Ambani’s Reliance Industries Ltd. recently bought a robotics startup to scale up its…

3 days ago

Thrasio styled startup Global bees another Unicorn before entering the year 2022.

GlobalBees, the US-based Thrasio styled company, has secured $ 111.5 million in series B funding…

3 weeks ago

Woobly, a tech start-up transforming ultra-luxury dining, got accepted into 10X Incubator, founded by billionaire Grant Cardone and Jared Yellin

10X Incubator, founded by Grant Cardone and Jared Yellin accepts Woobly out of over 11,000…

4 weeks ago