PE Fund Investments
Telehealth platform Truemeds to raise $44-M in Series C led by Accel India
Mumbai-based telehealth platform Truemeds is raising INR 375.2 crore (around USD 44 million) in a Series C funding round led by Accel India (INR 285.4 crore for 10% stake) with the participation from WestBridge, through its investment vehicles Konark and MMPL Trust (INR 68.49 crore for 28.64% stake) and Info Edge (INR 21.31 crore for 23.02% stake) at a post-money valuation of USD 340 million. Post deal, the company’s founders would collectively retain a 22.43% stake.Founded in 2018 by Akshat Nayyar and Kunal Wani, Truemeds lets consumers find medicines of alternate brands with the help of prescriptions uploaded by them.
Between May 2020 and Feb 2022, Truemeds had attracted about USD 27 M from Info Edge, Asha Impact, IAN Fund, WestBridge, and angel investors.
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