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Accel eyes stake in India’s Truemeds at $330 million valuation
According to half a dozen sources, Accel, the global venture firm, is in advanced discussions to lead a funding round of $30 million to $40 million in Accel, the global venture firm, is in advanced discussions to invest in India's Truemeds, sources tell TechCrunch.
The talks are currently centered on a proposed valuation of about $330 million for the six-year-old, Mumbai-headquartered startup, per these same sources, who requested anonymity as the deliberations are ongoing and private. Pharmeasy, backed by Prosus Ventures, has seen its valuation plummet from a peak of $5.6 billion to below $600 million after struggling to repay a loan to Goldman Sachs. Janus Henderson, the British American global asset firm, implied a valuation of about $458 million for Pharmeasy at the end of June, according to its most recent mutual fund disclosures.
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