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Online pharmacies see record funding in 2019, investments double to $321 mn

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Online Pharmacy segment has seen the private equity and venture capital investments double in 2019. $321 million was invested in four deals as compared to $140 million in 10 deals during the previous year. The industry experts are expecting more activity in the segment during the current year.

According to data from research firm Venture Intelligence, the investments into the sector have grown from $39 million in four deals in 2015, to an all-time high investment of $321 million last year. The highest number of deals happened in 2018.

However, during 2019, the investors backed some of the major online healthcare and pharmacy retailers and the deal list is led by PharmEasy, which has seen fund-raising through the year to bring in around $220 million and the round is yet to be concluded, according to Venture Intelligence data. 1MG, HealthKart and a subscription based medicine delivery start-up Digi-Prex raised funds during the year.

Industry experts said that the sector is expected to continue seeing investments as the digital ecosystem is growing in the country. More start ups should come into the sector as it needs more innovations and fill in the gaps in the existing healthcare system.