India Digest: Byju’s said to have acquired Scholr; PharmEasy eyes $200m funding

Byju Raveendran, the founder of Byju's. Photo: Hemant Mishra/Mint

Byju’s has reportedly acquired smaller rival Scholr and the deal is likely to be announced soon. Separately, PharmEasy is in advanced talks to raise $200 million in funding from Prosus Ventures.

Byju’s acquires smaller rival Scholr

Edtech major Byju’s has reportedly acquired smaller rival Scholr, which provides video solutions for class 6 to 10 students to solve their doubts via Android and iOS apps.

According to a report in Entrackr, the deal was signed early this month and is likely to be announced soon. The size of the deal is in the range of Rs 15-20 crore.

Earlier, Byju’s had reportedly also secured a deal for acquiring Blackstone-backed Aakash Educational Services Ltd for $1 billion while it is also close to signing a deal to acquire rival Toppr Technologies Pvt. in a transaction valued at roughly $150 million.

PharmEasy in talks for $200m funding

Mumbai-headquartered online pharmacy startup PharmEasy is in advanced talks to raise $200 million in funding from Prosus Ventures, formerly know as Naspers Ventures.

According to a report in The Times of India, PharmEasy is expected to be valued at upwards of $1 billion in the round, which will be a mix of primary and secondary investments.

TPG Capital is also picking up about a 7% stake in the company as part of the broader funding round, the report added. PharmEasy had reportedly merged its operations with smaller rival Medlife, a Bengaluru-based omnichannel pharmacy platform, in August last year.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.