Getty ImagesHYDERABAD: MetroMedi, an online pharmacy startup that raised $1.5 million in seed funding in October last year, is in talks to raise $10-15 million in Series-A funding over the next couple of months by diluting a 20-25% equity at a valuation of around Rs 300 crore, a person in the know said.
The Hyderabad-headquartered startup has appointed Mumbai-based Propeluss as the investment banker for the transaction. Due diligence by a set of prospective investors is currently ongoing, the person told ET. It is “at an advanced stage and the stake sale is likely to be sealed before March,” he added.
MetroMedi, founded by serial entrepreneur Dilip C Byra, is looking to evolve into an omni-channel fullstack solution for healthcare services in underserved markets and establish brick-andmortar stores across several states.
The Hyderabad-headquartered startup has appointed Mumbai-based Propeluss as the investment banker for the transaction. Due diligence by a set of prospective investors is currently ongoing, the person told ET. It is “at an advanced stage and the stake sale is likely to be sealed before March,” he added.
MetroMedi, founded by serial entrepreneur Dilip C Byra, is looking to evolve into an omni-channel fullstack solution for healthcare services in underserved markets and establish brick-andmortar stores across several states.
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