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Doris Yu · · 1 min readSources: Prosus Ventures in final stages to invest $200m in PharmEasy
“Prosus Ventures, previously known as Naspers Ventures, is in the final stages of investing around US$200 million in online pharmacy platform PharmEasy amid the wider consolidation in the space,” reported the Times of India.
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.
Editing by Miguel Cordon and Jaclyn Tiu
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