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PharmEasy

E-pharmacy/healthtechIndia
New to Unitard
βœ‚οΈ Markdown
PeakΒ $5.6 BillionToday
~-92%
from peak
  1. πŸ¦„
    Became a unicorn
    Apr 2021
  2. πŸ“ˆ
    Peak valuation
    $5.6 Billion ’21
  3. πŸ’”
    Became a Unitard
    ~2023
  4. πŸ’Έ
    Last valuation
    ~$448M
Current status
Marked to ~$456M (Dec 2024)

The rise & fall

9 moments Β· 2015–2024

The key moments, with employee sentiment along the way.

2015
Founded in Mumbai
An online pharmacy delivering medicines and diagnostics across India.
Wikipedia
Apr 2021
Joins the unicorn club
Pandemic-era demand for medicine delivery pushes the valuation past $1B.
Inc42
2021
The peak: ~$5.6B$5.6B
Rapid pandemic-era growth and acquisitions push the valuation to roughly $5.6B.
Inc42
From the inside Β· Glassdoor reviews, 2022–23
Glassdoor reviews from the 2022–23 cash crunch described the strain inside: recurring layoff rounds, job insecurity employees tied directly to the company's finances, and frozen hikes alongside stock options worth far less than promised.
2023
A heavily discounted rights issue
Mounting losses and debt force a rights issue at a steep discount, repricing the company far below peak.
Inc42
2023
Slips out of the club
Investor markdowns pile up as the funding reset sinks in.
Inc42
Dec 2024
Marked to ~$456M
Neuberger Berman's markdown implies a fall of about 92% from peak.
Inc42

πŸ’¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—; dated facts carry their source.

How it happened

PharmEasy is an Indian online pharmacy and healthtech platform that peaked at roughly $5.6B in 2021 after rapid pandemic-era growth and acquisitions. Mounting losses and debt forced a heavily discounted rights issue and steep investor markdowns; Neuberger Berman cut its stake to imply a valuation near $456M by late 2024, a fall of about 92% from peak.

Source: Inc42

Founders

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

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