PharmEasy, once valued at over $5 billion, seeks new funding at a 90% valuation cut

Indian online pharmacy startup PharmEasy has informed its existing investors that it plans to raise a new round of funding via rights issue at a 90% markdown from the previous valuation, a person familiar with the matter said.
PharmEasy, one of India’s largest pharmacy firms, is racing to raise the new capital to pay its lender Goldman Sachs, the person said. Indian newspaper Economic Times first reported the development.
API Holdings, the parent firm of PharmEasy, was valued at over $5 billion in its most recent funding round in the second half of 2021.
The firm, which offers a range of

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