Online Pharmacy ‘PharmEasy’ Eyeing To Raise About $50 Million
Online medicine marketplace, PharmEasy is eyeing to carry forward a $40-50 million funding round led by Fundamentum Advisors (owned by Nandan Nilekani and Sanjeev Aggarwal) and Eight Roads Ventures (the proprietary investment arm of Fidelity International).
This particular funding round is expected to close over the next two weeks, and will possibly witness participation of the existing investors as well including Orios Venture Partners, Astarc Ventures, JM Financial and Manipal Education and Medical Group (MEMG).
“The company is doing well. It is among the top companies in the ePharmacy space. It has a play in both in retail and wholesale. Their average order value is around Rs 1,000. The company is looking to use the money to fuel its expansion and also to finance cash burn in this c...