PharmEasy Receives CCI Nod To Raise Funds From Canadian Pension Board
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India, Feb. 23 -- Mumbai-based online pharmacy PharmEasy has received the Competition Commission of India's approval for investment from Canada-based CDPQ (Caisse de depot et placement du Quebec) in exchange for a 2% stake in the parent company API Holdings. The Canadian pension fund CDPQ had previously participated in PharmEasy's $220 Mn round in 2019.
Both the companies have not disclosed any other transaction details of this latest round. But CDPQ isn't the only one running after stake in the epharmacy startup. US-based private equity firm TPG sought CCI's approval to acquire a 7% stake in PharmEasy, which intends to use this capital to deepen its distribution network and build a technology-first product. The approval was filed in Dec...
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