Tuesday, July 16, 2024
Outlook.com
Outlook India
Outlook Business

Pharmeasy

The late-stage investment focussed firm slashed the edtech company’s valuation by nine per cent to $2.9 billion

The development came four months after the Drug Controller General of India (DGCI) show caused multiple online pharmacy platforms over the violation of norms regarding the online sale of drugs

Prior to this, Baron Capital lowered the company’s valuation to $6.7 billion as of June 2022.

Prior to this, Neuberger Berman, a New York-based investment management firm slashed PharmEasy’s valuation by 21 per cent to 4.4 billion as of February 28

Flash Perks is designed to be engaging and consumer-centric. It recognises shoppers for their higher shopping frequency and rewards them with more benefits

The real-time tracking feature of the client dashboard will allow users to monitor the locations of their vehicles and riders and carbon saved tracking

The company’s existing investors like Prosus Ventures and Temasek as well as its founders have subscribed to the issue for shares worth about Rs 200 crore

The valuation of India’s largest online pharmacy has dropped drastically and could be at a significant discount of almost half of its October 2021 pre-IPO valuation of $5.4 billion in its pre-IPO round, at $2.5 -$2.75 billion

The scale-up platform plans to lead or co-lead a $25-40 million round, investing in four to five start-ups each year