General Atlantic (GA), Canada Pension Plan Investment Board (CPPIB), and Abu Dhabi Investment Authority (ADIA) are mulling about $250 million investment in the parent of PharmEasy.
The valuation of India’s largest online pharmacy PharmEasy has dropped to almost half its October 2021 $5.4 billion pre-IPO tag at $2.5-2.75 billion.
Existing investors TPG Growth, Prosus Ventures, Temasek and ADQ will invest about $70-80 million in the latest round.
Founded in 2015, PharmEasy holds a substantial position in the $350 Mn Indian epharmacy market.
The startup offers a range of services such as teleconsultations, sample collections and medicine delivery.
The epharmacy sector saw a boom amidst the Covid-19 pandemic and the related restrictions.
However, with daily life returning to normalcy, the market has gone back to legacy players and funding inflow in the segment has dwindled.