AZB & Partners lead API Holdings fundraising from Prosus Ventures and TPG Growth
API Holdings – the parent company of online pharmacy PharmEasy, has raised $350 million in a funding round led by Prosus Ventures (formerly Naspers Ventures) and TPG Growth. Existing investors including Temasek, CDPQ, LGT Lightrock, Eight Roads & Think Investments also participated in the Series E round.
Prosus is a global consumer internet group and one of the largest technology investors in the world. Operating and investing globally in markets with long-term growth potential, Prosus builds leading consumer internet companies that empower people and enrich communities.
API Holdings owns India's largest integrated digital healthcare platforms. The company's platforms empower and connect over 60,000 brick & mortar pharmacies and 4,000 doctors in 16,000 zip codes across India. The company intends to use the funds to expand its pharmacy network and add more tele-consultations to link up customers.
AZB & partners advised API Holdings Pvt. Ltd.; its Founders – Siddharth Shah, Harsh Parekh, Hardik Dedhia, Dhaval Shah and Dharmil Sheth and Mankekar HUF SPA (Mankekar Family).
The team from AZB & Partners comprised of Partners – Anand Shah and Bhuvana Veeraragavan; Shriram Shah (Counsel) and Senior Associate – Aayush Kumar.