Reliance Industries has paid $82.6m for a majority stake in NetMeds, an online pharmacy that had raised $99m from backers including Daun Penh Cambodia Group and Sistema.

NetMeds, an India-based online pharmacy backed by medicine distributor Daun Penh Cambodia Group and conglomerate Sistema, was acquired by conglomerate Reliance Industries yesterday for Rs 620m ($82.6m).

NetMeds is a group of three subsidiaries – Tresara Health, Netmeds Market Place and Dadha Pharma Distribution – run by parent company InVitalic Health.

Reliance conducted the deal through its Reliance Retail Ventures unit and will own approximately 60% of InVitalic and 100% of the subsidiaries.

Founded in 2015, NetMeds runs an online…

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Thierry Heles

Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
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