Netmeds places an order for Pluss

Nov 28, 2016 • Nicole Idar

Online pharmacy Netmeds acquired the medicine delivery app for an undisclosed sum, providing an exit for Pluss backer IDG Ventures India.

India-based medicine and healthcare products delivery app Pluss has been sold to online pharmacy Netmeds for an undisclosed sum, Live Mint has reported.

The all-stock deal provides an exit for IDG Ventures India, the venture capital affiliate of IT media company International Data Group, which led Pluss’s $1m pre-series A round in November 2015.

Other backers in the round were investment firm M&S partners and Powerhouse Ventures, a company that invests in intellectual property created through scientific research.

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