Pharmeasy

Rahul Guha, who currently serves as CEO of subsidiary Thyrocare and President of Operations at API, will take over from Siddharth Shah, the last remaining co-founder of the company, who will now assume the role of Vice Chairman.

PharmEasy co-founders Dharmil Sheth, Dhaval Shah and Hardik Dedhia to start new consumer venture together

The outgoing founders will continue to hold shares in the company and remain on the board but have expressed willingness to reduce their involvement in active day-to-day executive responsibilities.

PharmEasy co-founders Dharmil Sheth, Dhaval Shah, Harsh Parekh and Hardik Dedhia to leave troubled startup

The founder group cumulatively holds under 2 percent in API Holdings. Each of the five co-founders held between 0.20 percent to 0.30 percent stake in the company, data showed.

Swiggy Instamart looks to strengthen pharmacy play 10-minute medicine deliveries

To be sure, Swiggy was already delivering basic over the counter medicines such as pain relief sprays and others through Instamart, the company’s quick commerce arm.

PharmEasy raises $216 million at a 90% lower valuation from peak

The online pharmacy was last valued at $5.6 billion in 2021, followed by nearly 90 percent decrease in its valuation amidst debt repayment related challenges.

Tata 1mg credits pricing for market share gains, says didn't go crazy like rivals during good times

Discount-centric strategies, favoured by some of the Tata 1mg’s rivals, are unsustainable in the long term, co-founder Gaurav Agarwal said

Naspers, Temasek get CCI nod to buy stakes in PharmEasy

API Holdings, through its subsidiaries, is in the business of providing healthcare services through online e-commerce marketplace PharmEasy.

PharmEasy CEO hopes to return to market with an IPO if robust performance sustains

The company is awaiting Competition Commission of India (CCI) approval for the rights issue.

Byju’s, Pharmeasy among biggest underperformers in Prosus' India portfolio in H1

According to the firm’s half yearly financials, while Byju’s reported a negative internal rate of return (IRR) of 24 percent, Pharmaeasy gave Prosus 41 percent negative returns in H1 FY24.

Diagnostic players shun discounts, opt for the premium route

Most new-age diagnostic players moved away from heavy discounts and are now raising prices. With this, the difference in pricing between incumbents and established players is narrowing and moving towards a level-playing field

Pharmeasy to seek funding from Manipal only in case of shortfall in rights issue

The Manipal Group's family office had made a binding offer to invest up to Rs 1,300 crore in the online pharmacy

Exclusive | Manipal Group to lead Rs 2,500 crore investment in PharmEasy at massive drop in valuation: Sources

The Manipal Group family office may also secure a board seat at API Holdings and become its single largest shareholder.

Tata 1mg plans rapid offline foray by end of year

The company, which has about 50 stores in Gurugram, Jaipur, Delhi, Noida and Kolkata, is gearing up to expand its brick-and-mortar base to about 200-300 stores by the end of 2023, after setting up shops in Bengaluru, Hyderabad and Mumbai.

Pine Labs and PharmEasy parent hit with valuation markdown by Neuberger Berman

US-based Neuberger Berman has reduced the fair values of API Holdings and Pine Labs by 21.6 percent and 39 percent, respectively, to $4.39 billion and $3.14 billion, the investor's filings with the Securities and Exchange Commission showed.

Ola, Uber, Dunzo, PharmEasy, Amazon Flex score 0/10 in providing fair conditions for gig workers: Report

The report rated 12 platforms on fair pay, fair conditions, fair contracts, fair management, and fair representation.

Budget 2023: Startup industry body seeks changes in direct and indirect taxes

IndiaTech.org which represents start-ups like MakeMyTrip, Nykaa, Ola, Policybazaar, Dream11, BharatMatrimony has sent a two separate submissions of direct and indirect taxes recommendations on December 8

Can two high profile issues revive the IPO market? 

Despite the poor sentiment, IPOs of small companies have been heavily oversubscribed, while private equity deals and private placements are continuing. But the IPOs of Mankind Pharma and Navi Technologies will be a test of the appetite for large issues 

We’re late to the SaaS party, but we’ll continue to make more investments there: Prosus Ventures’ India Head

The VC firm remains slightly conservative in the mid term in terms of funding due to rate hikes and geopolitical uncertainty

PharmEasy likely to raise $250 million from General Atlantic, Abu Dhabi fund, CPPIB

The valuation of India’s largest online pharmacy PharmEasy has dropped to almost half its October 2021 $5.4 billion pre-IPO tag at $2.5-2.75 billion.

Tiger Global coming at early-stage investing is good for us: Fundamentum's Sanjeev Aggarwal and Ashish Kumar

Nandan Nilekani's Fundamentum Partnership stayed away from any new investment in 2021 as the firm couldn't find companies where it thought it would be able to generate returns.

Slowing in startup funding is healthy, signals return to basics: Sanjeev Aggarwal of Fundamentum

The funding slowdown is healthy because nothing was changing in the business but valuations were going up because of the fear of missing out for venture capital firms

PharmEasy parent recalls draft IPO papers, weighs rights issue to raise funds

The rights issue is expected to open for a period of 30 days, starting from on or around the first week of September, API Holdings said.

Nandan Nilekani’s Fundamentum Partnership raises $227 million in second fund

Fundamentum joins a growing list of early-stage venture capital investors in India to have raised large funds for Indian-focused startups. Earlier this year, VC firms Accel and Elevation Capital had also closed their largest-ever India-focused funds.

Tele-consulting platforms, e-pharmacies hit by tepid demand as pandemic boost wears off 

During the pandemic, e-pharmacies and online consultation platforms turned out to be lucrative businesses within health tech, which also includes at-home diagnostics, fitness and nutrition platforms, disease management and employee wellness services. 

Cheque sizes for early stage startups are down by 10-15% in last 2-3 months: B Capital's Karan Mohla

We aren't seeing valuations go up in the early stage, valuations are probably holding up to what they were in the last one year. Instead round sizes have come down a little bit, said Karan Mohla