Netmeds

Amazon, Reliance recently announced their foray into e-pharma sector

Online pharmacy segment has significant traction amid the Covid-19 pandemic

Promoted by Dadha Pharma, it is one of the earliest players in online pharmacy

Reliance swoops on Netmeds; sector expected to hit revenues of over $3.6 bn by 2022

The letter has also been addressed to Prime Minister Narendra Modi, Union Home Minister Amit Shah, Commerce and Industry Minister Piyush Goyal and other top ministers and government officials.

The VC fund the move will fetch it attractive returns as the online pharma start-up grew 4x over past three years

Promoted by Dadha Pharma, Netmeds is one of the earliest players in online pharmacy having incorporated in 2015

The Netmeds acquisition will help it enter online drug sales, making it an integrated player. The firm has a ready customer base of 400 mn mobile users whom it could tap for its online health services

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This investment represents 60 per cent holding in the equity share capital of Vitalic and 100 per cent direct equity ownership of its subsidiaries

Reliance Industries Ltd is in various stages of negotiations to either buy out or purchase stakes in Urban Ladder, Zivame, Netmeds

Flipkart CEO Kalyan Krishnamurthy has held multiple rounds of talks with PharmEasy's founding team, the Times of India report said

The service would allow customers to order prescription-based medication in addition to over-the-counter medicines, basic health devices and Ayurveda medication from certified sellers

The company, however, did nod provide any details about the investment it would be making to set up these centres

Company to invest up to $10 million

It is also planning to set up data science service where it would provide insights to healthcare players

The future plans of the company include partnership with other pharma/nutritional companies

Daun Penh was joined in the round by the existing investors Sistema Asia Fund, and Tanncam Investment

Plans to open brick-and-mortar stores on the backburner, says CEO