Top Global Investors Naspers, TPG Likely to Invest $100 Mn in Pharmeasy
11 October 2020
Mumbai-based online pharmacy store PharmEasy is in talks with South African technology and media conglomerate Naspers and US-based private equity firm TPG to invest up to $100 million each in PharmEasy. The investment by the technology investor giants is likely to be done at a pre-money valuation of $1.2 Billion.
The company has so far raised $328 Million across seven funding rounds and the latest investment worth $220 Mn was led by Temasek in November 2019. Also, the strategic merger between Medlife and PharmEasy was confirmed by CCI (Competition Commission of India) during the last month. The merger is expected to change the face of the segment.
The health tech sector has been positively impacted by the pandemic and has witnessed massive investments and an increase in the number of acquisitions and mergers. Amazon has launched ‘Amazon Pharmacy’, a dedicated space for selling prescription drugs. While Mukesh Ambani-led Reliance acquired shares in E-pharmacy startup Netmeds for around Rs 620 Crores.
The entry of big players like Amazon and Reliance Industries has augmented the growth of the online pharmacy segment and has made the space more competitive. The E-pharmacy segment will continue to witness the infusion of large capital over the course of 2020 and 2021. The companies will have to go to extra lengths if they are looking to dominate in the competitive space.
