Faced with a funding crunch, the startup, which shelved its IPO plans recently, is likely to follow some of its peers and take a valuation cut. It is likely to be valued nearly 50% lower from its valuation of $5.4 Bn in October 2021.
Epharmacy startup PharmEasy’s parent company API Holdings is reportedly in early stages of discussions for raising $200 Mn-$300 Mn from General Atlantic, Canada Pension Plan Investment Board (CPPIB), and Abu Dhabi Investment Authority (ADIA).
Faced with a funding crunch, the startup, which shelved its IPO plans recently, is likely to follow some of its peers and take a valuation cut. It is likely to be valued nearly 50% lower from its valuation of $5.4 Bn in October 2021.
Previously, PharmEasy was also reported to be in talks with investors to nearly raise $200 Mn at a valuation of $3.8 Bn (a 30% valuation cut), but the deal did not materialize.
In the current round, existing investors TPG Growth, Prosus Ventures, Temasek, and ADQ are also likely to contribute roughly $70 Mn-$80 Mn. The Economic Times report quoted sources as saying that the discussions are in an early stage and may not necessarily turn into a deal.
