PharmEasy raised $216 million in a convertible note round led by Manipal Education and Medical Group

May 01, 2024•over 1 year ago

Amount Raised

$216 Million

MumbaiHealth Care

Investors

Ranjan Pai’s Manipal Education And Medical Group

Description

PharmEasy raised $216 million in a funding round, issuing 186.4 million convertible preference shares at an issue price of Rs 96.8 each. The funding round has resulted in a 90% reduction in the company's valuation to $710 million.

Company Information

Company

PharmEasy

Location

Mumbai, Maharashtra, India

About

PharmEasy is India’s leading consumer healthcare “super app,” launched in 2015 to make healthcare accessible and affordable for all. As the country’s most trusted online healthcare aggregator, it provides home delivery of prescription medicines, OTC products, diagnostic services, and more across 1,000+ cities and 19,000+ pin codes. With a mission of Simplifying Healthcare, Impacting Lives, PharmEasy ensures genuine products, maximum savings, and reliable service, and is proudly recognized as a Great Place to Work® Certified™ company.

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Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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