EvolutionX Debt Capital makes maiden investment in PharmEasy parent firm

EvolutionX Debt Capital, a growth-stage debt financing platform, has made its maiden investment in API Holdings, the parent company of PharmEasy, India’s largest online pharmacy.

The investment, of an undisclosed amount, is part of a sequence of planned capital raises and it will be followed by equity infusion in the company in the near-term, said Siddharth Shah, chief executive officer and co-founder of API Holdings.

“This collective capital raise will optimize the capital structure as well as improve the net debt position and financial strength of the company, ensuring a clear runway to profitability,” he said.

Capital markets are muted and access to private capital for tech start-ups is narrowing,