Prosus, TPG Invest in Indian Healthtech Company API Holdings

By Adria Calatayud

Prosus Ventures and TPG Growth have led a $350 million funding round in Indian digital-healthcare company API Holdings, the companies said Wednesday.

API Holdings, parent of online pharmacy PharmEasy, said the new funds will allow it to deepen its relationships and penetration of existing markets to reach more than 100,000 pharmacies in the next 12 months. Its platforms currently connect more than 60,000 brick-and-mortar pharmacies and 4,000 doctors in India.

Prosus Ventures, the venture investing arm of Dutch internet conglomerate Prosus NV, said this will be its first investment in the health-technology sector.

Existing investors in API Holdings including Temasek, Caisse de Depot et Placement du Quebec, LGT Lightrock, Eight Roads and Think Investments also participated in the funding round, the companies said.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

April 07, 2021 07:19 ET (11:19 GMT)

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