API Holdings raises $350 million

Online pharmacy PharmEasy’s parent firm API Holdings on Wednesday said it has raised $350 million in a funding round led by Prosus Ventures and TPG Growth.

Existing investors, including Temasek, CDPQ, LGT Lightrock, Eight Roads & Think Investments, also participated in the Series E round, the firm said in a statement.

API Holdings’ platforms enable and connect over 60,000 brick and mortar pharmacies and 4,000 doctors in 16,000 zip codes across India.

API Holdings also owns the largest consumer digital healthcare platform, it said.

The funds would allow the API Holdings’ team to deepen its relationships and expansion of existing geographical markets to reach over 100,000 pharmacies in the next 12 months, it added.

“The new funding will also enable the company to further build out its platform to provide an increased range of services to healthcare practitioners and patients, setting up a better healthcare ecosystem for all Indians,” it said.

Source: Read Full Article