Pharmeasy raises $350 million from Prosus Ventures, TPG Growth: Report

Prosus Ventures and TPG Growth are leading an investment of $350 million (~Rs 2,570 crore) in API Holdings, the parent company of online pharmacy Pharmeasy, reported the Economic Times.

The deal reportedly values Pharmeasy at $1.5 billion, making API Holdings the latest unicorn in India.

The deal also saw participation from existing investors Temasek, CDPQ, LFT Lightrock, Eight Roads, and Think Investments, and will be a mix of primary and secondary capital.

The company will reportedly use the fresh funds to expand the pharmacies it works with from 80,000 to 120,000 in the next 12 months.

API Holdings had also acquired smaller online pharmacy Medlife in exchange for a 19.59% stake in the company last year.

Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ), is set to acquire a 2% stake in PharmEasy’s parent company API Holdings,...

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