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EvolutionX Debt Capital makes maiden investment in PharmEasy parent firm

Debt financing platform's investment amount was not revealed; it will make equity infusion later

cash, fund, money, Rupee, growth, transaction, investment, sell, buy, market, acquisition, stake, share, stock, incentive

Aryaman Gupta New Delhi
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

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First Published: Nov 07 2022 | 12:12 PM IST

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