Sistema and Tanncam prescribe $14m for Netmeds

Nov 1, 2017 • Robert Lavine

Online pharmacy Netmeds has raised $14m in a round featuring Sistema Asia Fund that follows $50m in financing secured two years ago.

India-based online pharmaceutical retailer Netmeds has received $14m in funding from investors including Sistema Asia Fund, a corporate venturing unit operated by conglomerate Sistema, Times of India reported yesterday.

Sistema was joined in the round by investment holding company Tanncam. The funding follows a $50m multi-tranched round in late 2015 that was led by US-based life sciences investment firm OrbiMed.

Formed by pharmaceutical retail group Dadha & Company, Netmeds runs an online platform that offers prescription medicines and other health…

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