Pharmeasy

Dharmil Sheth is one of the directors of edtech startup Hobspace

Hobspace aims to create skill centre for kids, but is yet to launch operations

Hobspace is looking to hire teachers and business development executives

The deal is likely to close over the next 45 days

The funding round may value the company at about $650-700 Mn

Ascent Health and PharmEasy have been in talks for a merger

PharmEasy’s existing investors are participating in the round

A new Korean investor is also joining the funding round

PharmEasy’s 50% of transactions are profitable in a few cities

SoftBank may invest as much as $100 Mn in PharmEasy

It is said to lead $75Mn-$100 Mn funding round in Faasos

SoftBank has invested over $8 Bn in Indian startups

Madras HC had put an interim ban on the online sale of medicines in October

The direction by Madras HC judge to notify the rules before January 31 remains in force

Delhi HC had extended its all-India ban on the online sale of medicines to January 9

Tamil Nadu Chemists and Druggists Association sought direction from authorities concerned to block links of websites that are selling medicines online

In its order, the court has directed the Centre to file its counterpoint and scheduled the next hearing

PharmEasy’s co-founder Dharmil Sheth told Inc42 that the actual court order is not yet available and at the outset, this seems to in line with the notification from CDSCO on Dec 30 2017.

One of the biggest funding this week was raised by hotel chain OYO securing $1 Bn in its latest financing round

Paytm’s parent company One97 Communications finally approved the investment of $300 Mn from Berkshire

Samara Capital and Amazon are not acquiring More, but are co-investing in a company called Witzig Advisory which has agreed to acquire More

The funding round in PharmEasy was led by Eight Roads Ventures India, F-Prime Capital, Fundamentum, and Think Investments

Existing investor BVP also participated in this round

The startup plans to use the funding to build a larger consumer base and work towards improving its technology capabilities

One of the biggest funding rounds this week was raised by Artificial intelligence-based energy optimisation and control provider, AutoGrid

Mumbai-based venture capital (VC) firm Lightbox Ventures raised $178 Mn for it's $200 Mn third fund

This week, a total of 14 startups raised around $94.7 Mn funding in the Indian startup ecosystem

PharmEasy plans to use the funds to meet its working capital requirements

The venture debt fund round comes soon after PharmEasy raised $30 Mn in a Series C equity funding round in March 2018

As of March 2018, PharmEasy had expanded its presence to 700 cities and 2,000 pin codes in India

• Existing investors Orios Venture Partners, Astarc Ventures, JM Financial, and Manipal Education and Medical Group (MEMG) have committed $15 Mn
• The latest round may value PharmEasy at $130 Mn after the funding
• The funding round could also see an additional tranche of $10 Mn from a third new strategic investor

1mg Was Valued At $75 Mn In Its Last Funding Round, PharmEasy Is The Startup To Watch Out For This Year, And NetMeds Has A Secret USP