Funding round
PharmEasy Growth
Reported as "Growth Equity"
PharmEasy, which works in digital healthcare platform services in Mumbai, raised $216M in a Growth round announced on 30 Apr 2024, led by Manipal Education and Medical Group, at a $710M post-money valuation. 8 firms took part, 8 of them already investors. It is PharmEasy's sixth venture round on record; the one before was a Series E in Apr 2021.
$216M
Amount raised
$710M
Post-money valuation
$494M pre-money
8
Investors
1 lead
0.5x
Step-up from the Series E
$1.50B in Apr 2021
30%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced PharmEasy at $710M after the new money, 0.5 times the $1.50B of its Series E (Apr 2021). The $216M bought investors about 30% of the company. It came 36 months after PharmEasy's Series E. It is 25% of the $858M PharmEasy has raised in the venture rounds on record. No later venture round is on record for PharmEasy.
PharmEasy's funding rounds
PharmEasy has 6 venture rounds on record and 2 other deals. This one is highlighted.
- Series A 1 Jan 2016, led by Bessemer Venture Partners $5.0M
- Series B 3 Apr 2017, led by Bessemer Venture Partners and Orios Venture Partners $17M
- Series C 26 Sep 2018, led by Eight Roads $50M
- Debt not a venture round 27 Sep 2018 $5.5M
- Growth 27 Nov 2019 $220M
- Series E 7 Apr 2021, led by Prosus Ventures and TPG $350M$1.50B post-money
- Growth this round 30 Apr 2024, led by Manipal Education and Medical Group $216M$710M post-money
- Debt not a venture round 1 Sep 2025, led by 360 One $193M
Investors
Who put money in
Manipal Education and Medical Group led the round with 7 other firms. Manipal Education and Medical Group, Prosus, Temasek and 360 One Portfolios and 4 more had backed PharmEasy before.
Lead investor
- Manipal Education and Medical Group existing investor
Also in the round
- Prosus backs 44 venture-backed companies existing investor
- Temasek backs 195 venture-backed companies existing investor
- 360 One Portfolios existing investor
- La Caisse backs 43 venture-backed companies existing investor
- WSSS Investments existing investor
- Goldman Sachs backs 218 venture-backed companies existing investor
- backs 3 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to scaling operations and working capital.
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Growth rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Vertelo Car Rental | 22 Apr 2024 | $1.50B | not disclosed | not named |
| Tillman Infrastructure Telecommunications | 25 Apr 2024 | $1.00B | not disclosed | not named |
| Xaira Therapeutics Biotechnology | 23 Apr 2024 | $1.00B | not disclosed | ARCH Venture Partners and Foresite Capital |
| PsiQuantum Semiconductors | 1 Apr 2024 | $610M | not disclosed | QIC |
| Lambda Tech Companies | 4 Apr 2024 | $500M | not disclosed | Macquarie |
| Buyers Edge Platform Tech Companies | 8 Apr 2024 | $425M | not disclosed | General Atlantic |
| Solar Energy Company | 1 Apr 2024 | $325M | not disclosed | Mercuria Energy Group |
| Insurance - Agents, Carriers & Brokers | 3 Apr 2024 | $250M | not disclosed | Blue Owl Capital |
Sources
Where this comes from
Reported by 6 sources. The deal data marks this round as not yet confirmed by an official announcement. Unconfirmed
Questions
Frequently asked
How much did PharmEasy raise in its Growth round?
PharmEasy raised $216M in its Growth round, announced in Apr 2024.
Who led PharmEasy's Growth round?
Manipal Education and Medical Group led it, with Prosus, Temasek, 360 One Portfolios, La Caisse and WSSS Investments and 2 more.
What was PharmEasy's valuation at the Growth round?
$710M post-money ($494M pre-money).