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🦄 Another Indian Unicorn bites the dust recently. And it’s PharmEasy- the online Pharmacy- which has raised $210mn (Rs 1804 crore) at a 90% Valuation cut - Their last Series F Round Valuation was $5.6 Billion on October 2021 - Current $710mn Valuation is almost same as their Series D round ($700mn Valuation) on November 2019 According to a report by Entrackr: - Ranjan Pai’s Manipal Education and Medical Group (MEMG family office) led the round with $93mn while Prosus, Temasek, and 360 One Portfolios pumped in $26mn, $22mn, and $23mn, respectively.  - CDPQ Private Equity, WSSS Investments, Goldman Sachs, and Evolution Debt Capital cumulatively participated with $46mn in the new investment. Earlier PharmEasy paid $927M for Thyrocare in June 2021 and $144M for Aknamed, a supply chain management platform for hospitals and medical manufacturers, in Sept 2021. Here is a brief of PharmEasy Valuation by Round: - Series C-II- $150mn (Sept 2018) - Series D- $700mn (Nov 2019) - Merger- $1.2bn (Aug 2020) - Series E- $1.5bn (Feb 2021) - Unattributed VC- $1.8bn (June 2021) - Secondary Market- $5.6bn (Oct 2021) - Series G-II- $710mn (Apr 2024) It’s quite obvious that this new funding will result in the promoters being diluted way more than they ever hoped to be but the best part is that the company survived and might have another shot at success. Other notable players from India in this Online Pharmacy space are 1mg acquired by Tata and Netmeds acquired by Reliance Industries. IC: CB Insights ~~~~~ ♻️ Found this helpful? Repost it so your network can learn from it, too. And follow me, Fazlur Shah for more content like this. #startups #entrepreneurship #venturecapital #investing

PharmEasy — Not So Easy 💉💊👇 ……………..,,,, PharmEasy investor cuts value of its stake drastically, implying new valuation of $456M The asset manager’s Global Research Fund had originally spent $9.4 million to acquire these shares. This valuation is 92% less than PharmEasy’s all-time-high price tag of $5.6 billion. The persistent low valuation comes despite PharmEasy securing more than $200 million in fresh capital earlier this year, and while it’s preparing to file for an initial public offering next year. PharmEasy had raised $417 million through the rights issue, according to its co-founder Dharmil Sheth. A regulatory filing in April 2024 showed the startup had secured about $216 million. The startup, backed by Prosus Ventures Temasek TPG and B Capital operates one of the largest online pharmacies in India. Janus Henderson Investors’ valuation of its stake implies that PharmEasy is now worth much less than the $600 million it had paid to acquire diagnostic lab chain Thyrocare Technologies Ltd. in 2021. PharmEasy has raised over $1 billion to date. The startup’s financial challenges emerged after it deferred an $843 million IPO planned for November 2021. It then turned to debt financing, including a $300 million loan from Goldman Sachs, which proved problematic as the company struggled to repay those loans and raise new equity in a deteriorating market. https://lnkd.in/g_TeXvhh via TechCrunch

𝐀𝐟𝐭𝐞𝐫 𝐭𝐡𝐞 𝐬𝐭𝐨𝐫𝐦, 𝐈𝐧𝐝𝐢𝐚’𝐬 𝐡𝐞𝐚𝐥𝐭𝐡𝐭𝐞𝐜𝐡 𝐢𝐬 𝐬𝐞𝐭 𝐟𝐨𝐫 𝐛𝐫𝐢𝐠𝐡𝐭𝐞𝐫 𝐝𝐚𝐲𝐬 !📈 India’s #healthtech sector has often been overshadowed by giants like e-commerce and fintech. Healthtech #startups have raised $7 billion across 886 deals since 2014 but still trail the $63 billion raised by other sectors. Companies like Tata 1mg, Innovaccer, PharmEasy, Molbio Diagnostics, and Pristyn Care are working to change the narrative. 🩺 Challenges are real PharmEasy faced a 90% valuation drop, while Kenko Health and ConnectedH had to close. Yet, 2024 offers a glimmer of hope, with healthtech securing $460 million in H1 a 2.8x jump from 2023. With consumer trust, investor backing, and targeted #innovation, healthtech could emerge as a crucial player in India's digital landscape 🌍. 🔗Read More - https://lnkd.in/dX6fYqGk 🖊️Written By - Dr. Aishwarya S 🌐Stay Informed with our Latest Stories – https://lnkd.in/gMUPB2Zp #HealthtechRevival #Innovation #StartupEcosystem #DigitalHealth #Telemedicine #HealthcareInnovation #HealthTechIndia #FutureOfHealthcare #IndianStartups #TechForGood #HealthTechUnicorns

🚨 Valuation Alert: PharmEasy's Worth Drops to $456M 🚨 In a significant move, Janus Henderson has dramatically reduced its stake valuation in Indian online pharmacy PharmEasy. Once valued at a staggering $5.6 billion, the new figures suggest a staggering 92% decline. This change comes despite PharmEasy securing over $200 million in fresh capital earlier this year and gearing up for an IPO. Here are some key takeaways: - **Valuation Plummet:** Janus valued its 12.9 million shares at just $766,043. - **Funding Struggles:** The company faced a funding crunch resulting in a recent rights issue, bringing in about $417 million. - **Debt Challenges:** PharmEasy’s financial hurdles include large debts, such as a $300 million loan from Goldman Sachs. In the fast-paced startup landscape, PharmEasy's journey raises critical questions about sustainability and performance in the face of mounting challenges. 🔍 What do you think? Can PharmEasy bounce back, or does this signal a broader trend for startups? Share your thoughts below! 👇 **PharmEasy **Startups **Investment **Valuation **IndiaTech

Some key takeaways from a recent report by Inc42 Media on #Healthtech as a sector :- ➡ Healthtech startups secured over $7 Bn in funding from 2014 to 2024. ➡ Indian startups raised over $150 Bn during this period, with Healthtech contributing just around ~4.5%. ➡ Online pharmacies led the funding charts with $1.7 Bn, followed by fitness, wellness, and telemedicine sub-sectors with a total of $1.2 Bn. ➡ The Indian healthtech sector boasts only eight unicorns, including Tata 1mg, Innovaccer, PharmEasy, and Pristyn Care. ➡ None of these unicorns have emerged since 2022, Tata 1mg being the most recent. ➡ Post-pandemic, funding saw a 19% CAGR decline annually from 2022 to 2024, leading to closures of many startups. ➡ Experts attribute this funding challenge to the trust-based nature of India's healthcare sector, dominance of established players, and the high capital requirements with uncertain returns. 4point0 Health Ventures #Healthtech #StartupFunding #IndianStartups #HealthcareTechnology #FundingTrends

Healthtech startup Drucare has raised $1.2 million in its Pre-Series A round from SATRA Services and Solutions Private Limited and Solutions in June 2024. SATRA is a multi-disciplinary consulting company, headquartered at Hyderabad. Drucare will allocate the funds to marketing and business expansion, along with additional operational expenses. DRUCARE is an innovative healthtech startup founded in 2016 by professionals from diverse backgrounds. The company has successfully raised $1.2 million in its Pre-Series A round from investors including SATRA Services and Solutions, a multidisciplinary consulting firm based in Hyderabad. With a focus on expanding its marketing reach and addressing operational expenses, Drucare aims to enhance its presence both domestically and internationally. Under the leadership of its founder, CEO, and CTO, Dr. Rajendra P. Vennam, the company offers a wide range of solutions and services catering to healthcare organizations such as clinics, hospitals, pharmacies, diagnostics, and medical colleges of all sizes and numbers. DRUCARE has developed India's most comprehensive healthcare Software as a Service (SaaS) platform, DrucareONE, which provides the necessary IT infrastructure for various stakeholders in the healthcare sector, including providers and patients. The company's efforts are aligned with the National Health Authority (ABDM), National Medical Commission (NMC), and National Accreditation Board for Hospitals & Healthcare Providers (NABH) guidelines. read more at https://lnkd.in/gpGGuXRF #innovation #management #digitalmarketing #technology #creativity #futurism #startups

Medstown, founded on 20th September 2022, aims to deliver medicines faster than anyone in India. The startup has been incubated in T-Hub AIC, STPI, and Wadhwani Foundation, with over 650+ local pharmacies partners. Founder Syed Hussaini began his career in 2009 with Microsoft Hderabad, Quintiles, Parexel, Google, and started his own agency, Google Partner, mentoring and empowering over 15,000 individuals. During the pandemic, Syed noticed the struggles of patients trying to access essential medicines during trying periods by running from one pharmacy to another. He was inspired to envision a medium that would connect patients with local pharmacies, enabling them to browse, place orders, and get their hands on them in mere 30 minutes. His vision was beyond convenience; he also wanted to uplift local pharmacies that faced financial strain due to online pharmacies. Medstown's vision became even more powerful when Syed's mother experienced heart problems and realized the challenges of finding medicines himself. This personal experience ignited his unwavering commitment to creating a medium that eliminates gaps between patients and medicines. The startup faced many hurdles in the regulated and compliance market, as well as the lack of a payment gateway due to RBI restrictions on onboarding new companies. However, CTO Talib's genius in building tech helped Medstown overcome these challenges and compete with Swiggy Instamart, which jumped in the market. Startup India #startup #entrepreneurship

A slightly tangential thought > In this period of last 10 years and $ 7 Bn, there are numerous innovative companies ranging from #digitalhealth to #wearables to healthy foods and more with millions of users using these services and products. Then how come the state of health is getting worse? Rise in diabetes and obesity, rise in other chronic lifestyle issues and rise in cardiovascular illnesses. This is both, a cause of concern and opportunity at the same time. There is something unanswered or unsolved here. Logically speaking the way this should work is for e.g. Any substantial growth in preventive care and #metabolicwellness solutions should result in a drop in sales of medicines of that illness category at 1 Mg. Growth in healthcare is a scary term - Does it mean we are getting unhealthier ? In my experience of running a weight loss app, I remember having an argument with a potential investor. He said that if our solution is really good and helps users with weight loss through informed learning and guidance, then it is not good for business since we will not get repeat revenue :) In my opinion a health care product should be measured by #healthoutcomes and business growth by referrals, word of mouth and organic. #Nutrition #data #PersonalisedNutrition

In a conversation with Sonali Patranabish of IndiaMedToday, Dr Pankaj Jethwani, MD MBA, CEO, 2070 Health, shares insights on how venture studios like 2070 Health are driving growth and innovation in the startup ecosystem, contributing to a better future for millions in the country. "The dynamics within India’s healthcare startup sector have seen a significant transformation, especially during and after the COVID-19 pandemic. Supported by bullish markets, 2020 and 2021 witnessed a surge in the number of healthcare startups. As a result, some startups achieved unicorn status. Post 2022, this changed, and the private markets have reverted to pre-pandemic levels. The shift has affected most sectors, not only healthcare. The number of new unicorns across all sectors in India was down from 44 in 2021 and 21 in 2022 to just two in 2023. This decrease in funding suggests a cooling period — a much-needed market correction or a phase of strategic recalibration encouraging founders to build more financially sustainable businesses," he noted. Read more: https://lnkd.in/gfYE5wmb #HealthcareInnovation #StartupEcosystem  #MedTech #IVCA #MaximumIndia