Debt

Debt financing

Temasek's EvolutionX debt platform backs PharmEasy

Mint   Inc42  

API Holdings Ltd, the parent company of online pharmacy platform PharmEasy, has raised an undisclosed amount in debt from growth-stage financing platform EvolutionX Debt Capital. The development comes nearly three months after the e-pharmacy company withdrew its initial public offering papers, through which it planned to raise INR 6,250 crore. PharmEasy was founded in 2015 by Dharmil Sheth and Dhaval Shah. Besides the delivery of medicines, the company offers diagnostic tests to customers. It claims to have more than 6 million transacting users, over 150,000 active pharmacies and about 1,800 hospitals.

From the Venture Intelligence PE-VC Deal Database: Between Jan 16 and Oct 21, Pharmeasy had raised over USD 1.8 Billion from CDPQ, Temasek, Prosus Ventures, B Capital Group, TPG Growth, Trifecta Capital and others (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)