PharmEasy, Drivezy seek funding from SoftBank, Amazon; Lightspeed backs Property Share
Photo Credit: VCCircle

Online medicine retailer PharmEasy and self-drive two-wheeler platform Drivezy are in talks to raise funding from investors including Japan's SoftBank Group Corp, media reports said.

SoftBank is in talks to invest about $100 million (Rs 700 crore) in PharmEasy at a valuation of $400 million, Mint reported, citing three people aware of the matter it didn't identify.

PharmEasy had raised $50 million in an extended Series C round led by new investor Eight Roads Ventures in September last year.

PharmEasy sells medicines and healthcare products and also connects patients to local pharmacies and diagnostic centres through an integrated online platform. It competes with the likes of NetMeds and 1mg.

In another report, The Economic Times said that SoftBank and Amazon are among those who could lead a $100 million investment round in Drivezy.

Citing two people it didn't identify, the report said Amazon might be interested in Drivezy’s meta-search platform Rayy. The multi-product platform is focused on the gig economy and allows manufacturers, Drivezy and individuals to list products that users can share or rent. 

Drivezy had raised $20 million in its Series B round last year in a round led by existing Japanese investor Das Capital. Motorbike company Yamaha had come in as a new investor. 

Meanwhile, online real estate investment platform Property Share has raised an undisclosed amount in a Series A funding round led by venture capital firm Lightspeed Venture Partners, TechCircle reported, citing two people it didn't identify.

Property Share was founded in 2015 by Kunal Moktan, an IIM Ahmedabad alumnus, and Hashim Khan, an IIT Kanpur and IIM Ahmedabad alumnus. The company had raised funding from Japanese asset management firm Asuka Holdings in March 2017. Pior to that, it received $530,000 from venture capital firms Beenext and Pravega Ventures.

Leave Your Comment(s)