SoftBank may invest ₹700 crores each in PharmEasy, Drivezy and Faasos

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Masayoshi Son-led Japanese holding conglomerate SoftBank is expected to invest ₹700 crores ($100 million) each in PharmEasy, Drivezy and Faasos from its Vision Fund that is worth ₹7,00,000 crores ($100 billion)

Recently, the investment firm hired Sumer Juneja as its India’s head to ramp up its India-based operations and investments. And it appears that this change in leadership is doing some magic for the Indian startups.

You can read some interesting facts about Sumer Juneja here.

PharmEasy sells and delivers medicines through its website and mobile application as well as connects patients with diagnosis centres. As per Mint’s sources, the healthtech startup will soon be closing ₹700 crores ($100 million) round from SoftBank.

PharmEasy’s revenue has grown four folds year-on-year despite the ban on online sales of medicines by the government. The revenue is expected to grow to ₹450 crores by the end of this financial year. The startup will be valued at ₹2,800 crores ($400 million) for this round which will double its valuation.

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Another startup that SoftBank is interested in is Drivezy, a self-driving vehicle provider. Drivezy is in talks with both Amazon and SoftBank to co-lead a ₹700 crores ($100 million) round. The startup also expects to raise another ₹2,800 crores ($400 million) in asset financing soon.

However, according to some ET’s sources, Amazon is more interested in Drivezy’s metasearch platform Ravvy. Although both the companies have not confirmed the ongoing deals, the transaction is expected to take place via both debt and equity methods.

SoftBank is also in talks with Rebel Foods Private Limited, the legal entity behind renowned brands Faasos and Behrouz Biryani to invest ₹700 crores ($100 million). Faasos has raised ₹259 crores ($37 million) from existing investors like Sequoia, Lightbox, Kersiwood and some others.

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SW Staffhttps://startupwonders.com/guestpost
Startup Wonders provide startup resources, stories and news to help budding entrepreneurs grow and succeed in their business career.

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