The round also included PharmEasy’s existing investors, which include Temasek, Caisse de dépôt and placement du Québec, LGT Lightrock, Eight Roads, and Think Investments.
The new funding round brings PharmEasy's valuation to $1.5 billion, making it the first unicorn in India's e-pharmacy space.
PharmEasy Application
PharmEasy set out to make healthcare accessible to all
Launched in 2015, PharmEasy helps customers to order medications, healthcare goods, and schedule appointments with laboratories for diagnostic tests through an online mobile application.
The company currently collaborates with over 60,000 local pharmacies and 4,000 physicians, and conducts over 500,000 online telemedicine consultations each month.
PharmEasy makes it easy to buy medicine online.
PharmEasy plans to expand aggressively
Moving forward, PharmEasy plans to use the new funds to further develop supply chains and expand the number of pharmacies under its platform to 200,000 across 100 cities over the course of the next two years.
Furthermore, PharmEasy is already raising funds for its next round, which will value the company at around $1.8 billion.
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