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Online Drugstore Pharmeasy Raises Venture Debt From Innoven Capital

by techcircle.vccircle.com posted 6days ago 8 views
Mumbai-based PharmEasy, which offers diagnostic test booking services as well as medicines and wellness products online, has raised $5.5 million (Rs 40 crore) from venture debt investor InnoVen Capital, a top executive told TechCircle. The company will use the amount for working capital needs and inventory, said Dharmil Sheth, who co-founded the company with Dhaval Shah in 2015. “Debt is a great tool to use as working capital. We plan to use our equity capital for growth and not be stuck for working capital needs,” added Sheth.

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