PharmEasy, a healthare startup with its headquarters in Mumbai is expected to receive its next round of capital infusion of $40 million to $50 million and this round of funding is likely to be raised from Fundamentum Advisors and Eight Roads Ventures. While the former is the investment vehicle floated by Nandan Nilekani and Sanjeev Aggarwal, the latter is owned by Fidelity International.
Apart from them, almost all the existing investors in PharmEasy are also likely to participate in the funding round. These include Orios Venture Partners, Astarc Ventures, J M Financial and Manipal Education and Medical Group (MEMG).
MEMG is understood to have agreed to put up $15 million from its end. The figure of 40 million-50 million is being indicated because there is a suggestion that an entirely new investor could come in with about $10 million of investment. The process is almost complete and may see the inking of the documents happening before the end of July itself.
It is also being reported that PharmEasy will see its valuation being placed at $130 million after these funds are in.
PharmEasy will deploy these funds for improving its technological base and also take the company on a faster growth trajectory.
Teleconsultation, medicine delivery and sample collection for diagnostic tests are some of the services being offered by PharmEasy. The company has a subscription-based service as well but limited to a few towns only for now. The startup specializes in the chronic care segment within its overall scope of services.
In terms of numbers, the company says it receives 8000 orders per day and is able to service its customers located in over 700 cities/towns; around 2000 pin codes get covered. There are around 150 vendors on its platform.