According to reports, investors are planning to raise about $250 million in investment in PharmEasy. The investors interested in investing include General Atlantic, Canada Pension Plan Investment Board, and Abu Dhabi Investment Authority.
The Investors
The Abu Dhabi Investment Authority invests in the name of the Government of Abu Dhabi. According to reports, the investments made by the authority are considered secretive and opaque.
The General Atlantic based in New York is involved in known to provide capital and strategic support to entrepreneurs who share a passion for innovation and technology. The about section of the company says that General Atlantic supports the companies which have grown organically and wish to expand their business globally.
CPP Investment Board established in the year 1997 invests in foreign start-ups and aims at providing financial security to the people of Canada post-retirement.
According to reports, the investment amount is still under discussion. However, there is the possibility that the company expects to raise around $200-300 million from its new investors.
PharmEasy
Pharm Easy which is said to be India’s largest online medicine delivery platform is on a downhill path of late. Reports suggest that the company’s valuation has seen a decline. The company’s IPO saw a decline by half to $2.75 billion.
Reports also bring out that, the current partners are planning to invest $70-80 million in the latest round. The advisors to the fundraiser are Morgan Stanley and Bank of America. The development was first reported by Economic Times.
According to reports, the Southeast Asian region has been an attractive site for companies to invest. Reportedly, in May this year, New York-based General Atlantic planned to invest $2 Billion.
e-pharmacy In India
Reports suggest that the drug delivery market in India is expected to see a growth of 17.23%, The increase in drug delivery is attributed to the increase in disease, advancement in research and development skills, investment in health infrastructures and the rise of opportunities.
The sector has also seen the foray of top conglomerates in recent years. Reliance and Tata have been prominent names among them.
In India there over the years there has been a trend to purchase anything online. The e-pharmacy market which started in the year 2015 now has more than 50 companies. According to reports, the Indian pharmacy market is expected to grow at a rate of 44 per cent. According to a few estimates, the sector managed to get an investment of 700 million in the year 2020.
