Deals

India Digest: Blacksoil, Caspian Debt to merge; Centre for Sight inks pact; Pharmeasy investor cuts valuation

Investor Janus Henderson has estimated the  valuation of Pharmeasy at $458 million, 92% below its peak.

Deals

India Deal Review: Startup funding hits eight-quarter high at $5.2b in Q2

About 11 megadeals were closed in Q2 2024 as against three in the previous quarter and nine in Q2 2023.

Venture Capital

PharmEasy-backer Orios Venture Partners delays third fund close yet again

The fund is now expected to hit the final close in Dec 2024.

Analysis

India: Late-stage startup funding dips to five-year low of $2.3b in Jan-May

Late-stage deals had raked in $9.8b and $6.9b during the same period of 2022 and 2021, respectively.

Venture Capital

India Deal Review: Startup fundraising crosses $1b on a trot in April

The deal volume at 115 during the month was highest since Sept 2022.

Venture Capital

PharmEasy raises $216m in round led by Ranjan Pai’s MEMG: Report

The latest round valued the firm at $710 million, nearly a 90% discount from PharmEasy's 2021 valuation.

The LP View

The LP View: All eyes on how GPs handle business integrity risks

Several Indian startups have been in news for faulty accounting practices & inflated valuations.

Deals

PharmEasy in talks to raise funds from Manipal Group, others to repay loan: Report

PharmEasy had reportedly borrowed $285m from Goldman Sachs in August to pay off an earlier debt.

IPOs & Markets

PharmEasy breaches Goldman loan covenant by failing to raise $120m equity funding: report

The breach allows the bank to potentially take over the entire company or its arm Thyrocare.

Analysis

Investors deliver reality check as Indian startups see valuation markdowns

Global investors trim valuation of their stakes in BYJU's, Pharmeasy, Ola and Pine Labs.