Sources: Prosus Ventures in final stages to invest $200m in PharmEasy

Details:

• PharmEasy is expected to be valued at over US$1 billion following the investment.
• Prosus Ventures will have a double-digit stake in the e-pharmacy startup’s parent company API Holdings, while US investment firm TPG Capital will pick up around a 7% share in the firm as part of a larger round.

Context:

• The online pharmacy segment is booming in India, with 6 million new users having tried e-pharmacy post-Covid-19, the report noted.
• The industry has also been attracting bigger names. Indian conglomerate Reliance Industries recently acquired a majority equity stake in Netmeds’ parent Vitalic, while Tata Group is said to be closing in on a majority stake in online pharmacy 1MG.