SoftBank in talks to invest $70 million in Indian e-pharmacy Medlife

Five-year-old Medlife, which does 20,000 medicine deliveries a day, is seeking a valuation of around $430 million, say sources

SoftBank is looking at investing in Medlife, India’s largest e-pharmacy and healthcare platform by sales. Though the talks are still in early stages, the Japanese investment giant may put in $60 million-$70 million in Medlife, in what could be the first external investment in the five-year-old start-up. According to two persons having the knowledge of the talks, the Bengaluru-based company is seeking a valuation of Rs 3,000 crore or around $430 million, though this is yet to be agreed upon by the two parties. 

The sources added that SoftBank, which has a reputation to invest in market leaders, is keen