PharmEasy plans $200 million fund raising at lower valuation

Indian drug and medical services startup PharmEasy is in talks with investors to raise $200 million, but at a valuation that could be 15% or even 25% lower than last year’s $5.1 billion, two people with direct knowledge of deal talks told Reuters.

Signalling growing stress in India’s startup ecosystem, one source said PharmEasy, backed by big-name investors such as Prosus, TPG and Temasek, is in talks to secure the new funds at a valuation as much as 15% below last year’s.