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Pharmeasy raises $50 million in Series C funding

Healthcare startup Pharmeasy has raised $50 million in a Series C round, led by Eight Roads Ventures India, F-Prime Capital, Fundamentum Partnership backed by Nandan Nilekani and Sanjeev Aggarwal, and US-based Think Investments. Existing investor Bessemer Venture Partners also participated in the round. The funding was reported by Mint.

The funds will reportedly be used to increase customer base, expand warehouses and fulfillment centres, among other things. It already has 8 existing warehouses in the country, and plans to open 12 by 2019.

Co-founder Dhaval Shah told Mint that the funds will also be invested to branch out into chronic care management and digital records.

Pharmeasy currently operates in delivery of medicines, diagnostic tests and health & wellness products.

Previous funding

  • It reportedly raised $5.5 million in debt earlier this month from InnoVen Capital.
  • According to ET, the startup raised around $30 million in March 2018, in a round led by Bessemer Venture Partners with participation from Orios Venture Partners, JM Financial, Manipal Education and Medical Group (MEMG) and Trifecta Capital.
  • The startup raised $16 million in a Series B round in March 2017 from existing investors.
  • Pharmeasy raised $5 million in a Series A round in 2016 from Bessemer Venture Partners, Orios Venture Partners and others.

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