Accel eyes stake in India’s Truemeds at $330 million valuation

Quick Summary:

According to half a dozen sources, Accel, the global venture firm, is in advanced discussions to lead a funding round of $30 million to $40 million in Truemeds, an Indian online pharmacy that’s focused on providing customers with more affordable generic alternatives to costly branded medications.

The potential round for Truemeds comes amid a period of consolidation and upheaval in the online pharmacy industry.

Manish Singh is a senior reporter at TechCrunch, covering India’s startup scene and venture capital investments.

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Article Details

Author / Journalist: Manish Singh

Category: StartupsBusiness

Markets: United StatesIndia

Topics: Accel Exclusive Startups Commerce Truemeds

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-17 @ 05:16:48 (16 hours ago)

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Article Length: 406 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TechCrunch

News ID: 23098732

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