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$1 billion+ club round-up: Ola to get a $500-million investment, PharmEasy in funding talks with Softbank, and more
An overview of what's happening in Indian's unicorn space.
Health tech unicorn PharmEasy is in funding talks with Softbank
API Holdings Pvt, which owns the country’s largest online pharmacy chain, is seeking a valuation of at least $5.6 billion, Bloomberg reported. The company is targeting a listing in the next 12-18 months.
Softbank is looking to invest between $150-$200 in the latest funding round.
Ola is getting a $500-million investment
The ride-hailing giant revealed that Temasek and an affiliate of Warburg Pincus are pumping in $500 million into the unicorn. The startup’s co-founder and chief executive officer Bhavish Aggarwal will also be participating in the latest investment, according to TechCrunch.
Moreover, Ola Electric’s factory will soon begin the production of e-scooters.
Pine Labs raises funds from new investors
With additional investments from Fidelity Management & Research Company, the funds raised in the latest round reached $600 million.
Over the last year, the unicorn’s CEO B. Amrish Rau said, Pine Labs has made significant progress in its offline to online strategy in India and the direct-to-consumer play in Southeast Asia.
B2B e-commerce unicorn Moglix acquires Vendaxo
With the acquisition of Vendaxo, an e-commerce platform for buying and selling used machinery, the company will be able to provide high-value capital goods at economical prices to manufacturers.
Moglix entered the unicorn club this year, becoming the 13th startup to do so in 2021, after raising $120 million funding at a valuation of $1 billion.
Amanat Khullar is the Content and Editorial Manager at ADIF.
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