India Dealbook: Medlife, Credy, Azah Personal Care raise funds; Sachin Bansal eyes microfin startup

Online pharmacy Medlife, consumer lending startup Credy and Azah Personal Care have raised funding. Meanwhile, Flipkart co-founder Sachin Bansal is looking to acquire about 75 per cent stake in Chaitanya Rural Intermediation Development Services.

Medlife raises $17m funding

Bengaluru-based online pharmacy Medlife has raised about $17 million in an equity financing round from founder Tushar Kumar’s family trust, Prasid Uno Family Trust, INC42 reported. Founded in 2014 by Kumar and Prashant Singh, Medlife is an inventory-led epharmacy that helps doctors digitally manage and store patient records. The company had initially raised $15 million and later went on to raise $30 million from family capital and promoters. It competes with the likes of 1mg, Netmeds, PharmEasy and others.

Credy raises pre-Series A round

Y Combinator-backed consumer lending company Credy has raised an undisclosed amount in a pre-Series A round of funding, INC42 reported. The financing involved a mix of debt and equity. While the Ahemdabad-based non-banking financial company MAS Finance has contributed in the form of debt, some existing investors opted for the equity route, the report added. The Bengaluru-based startup had raised $1.4 million in a seed funding round from Y Combinator, Khosla Ventures, Vy Capital, and a bunch of Silicon Valley-based angel investors in February last year.

Azah Personal Care raises $200K

Women-focused wellness startup Azah Personal Care Pvt. Ltd has raised $200,000 in a seed round of funding from a group of individual investors, VCCircle reported. Founded by Shashwat Diesh and Aqib Mohammed in November last year, Azah plans to use the funds to drive its research and development, optimise the supply chain and improve customer experience through its platform, the report added.

Sachin Bansal eyes Chaitanya Rural

Flipkart co-founder Sachin Bansal is looking to acquire about 75 per cent stake in Chaitanya Rural Intermediation Development Services, which operates microfinance institution, Chaitanya India Fin Credit (CIFCPL), The Economic Times reported. The deal, which could involve a mix of primary and secondary sale of shares, will mark Bansal’s first investment in the financial services space. The deal, if fructifies, could also see Bansal taking a top job at the firm, the report added.

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