The healthcare services platform Medlife International Private Limited has obtained the remedy-shipping app Myra Medicines through a coin-and-stock deal.
Tushar Kumar, MetLife’s chief executive officer, showed the deal with VCCircle on Monday.
Kumar said Myra’s founders, Faizan Aziz and Anirudh Coonoor, along with some investors, will receive Medlife stocks as part of the deal, while others will accept cash.
“Medicine delivery is something that clients are used to getting in 30 minutes from their nearby pharmacy, and we want to provide them now the same experience on our platform,” he stated, including that Medlife could be capable of getting entry to a bigger market because of Myra’s explicit shipping abilities. “From a feed angle, due to the efficiencies that Myra has constructed, we will be capable of offering the explicit provider without affecting our unit economics,” he said.
Myra – run through Meta Train Software Solutions Private Limited – changed in advance in talks with the ANI Technologies Private Limited-run Ola Cabs, consistent with The Economic Times. However, those negotiations fell via following which talks with Medlife commenced.
According to the document, Medlife could absorb Myra’s 45-member groups, with Aziz and Coonoor heading up the product and engineering departments. The full integration of Myra’s offerings is predicted to take six months.
This is the second one to report Medlife’s acquisition this year. In January, it offered a Mumbai-based virtual healthcare platform and domestic diagnostics offerings organization, MedLabz, for an undisclosed sum. “The state-of-the-art diagnostic capabilities offered by MedLabz will help us support our function within the diagnostics section,” Kumar stated of that acquisition.
Medlife was founded in 2014 by Kumar and Prashant Singh. It began with online drug deliveries and then expanded into online consultations with clinical specialists and diagnostics. In keeping with The Economic Times, the corporation is currently trying to improve its capital from external resources.
Myra, which did not respond correctly to a request for comment, changed to founded in 2013. Before founding Myra, Aziz was chief technology officer at startup Dexetra, which evolved a Siri-like voice assistant app for Android, even as Coontoor became a Nokia software engineer. Investors inside the corporation consist of Matrix Partners India, media organization Times Internet, and angel buyers Quikr co-founder Pranay Chulet and Vy Capital associate director Vamsi Duvvuri.
Saahas Waste Management Pvt. Ltd, which operates as Saahas Zero Waste, has raised Rs 6 crore ($868,600) in a spherical led through new investor C4D Partners.
The Indian Angel Network and impact investors Artha Ventures and Asha Impact also participated within the funding spherical, the IAN said in a statement.
The IAN changed into the first investor in Saahas, having backed it in 2015. Artha Ventures first invested within the organization in 2017, in step with filings with the Ministry of Corporate Affairs. Asha Impact is a brand new investor within the organization.
Bengaluru-based Saahas will use the capital to improve the collection and aggregation of all types of non-biodegradable waste.
The startup was founded in 2013 using Wilma Rodriques. It focuses on decentralized waste management techniques and provides expert offerings to all waste turbines, including corporations, rental complexes, and institutions. The organization, which has a presence in south and west India, manages forty-five tonnes of waste per day. It has 248 personnel, 60% of whom are girls.
C4D Partners will even participate in the company’s subsequent investment rounds, coping with accomplice Arvind Agarwal stated.
In the waste control phase, private equity giant KKR agreed to acquire a 60% stake in Hyderabad-based Ramky Enviro Engineers Ltd. for $530 million in the last 12 months.
Investors
According to its website, C4D Partners is an initiative of the Netherlands-headquartered worldwide non-income ICCO Cooperative, which operates in over 40 nations in Latin America, Africa, and Asia. Its objective is to finance and invest in growing and inclusive small and medium companies that create social and environmental effects.
Last year, the Dutch impact investor sponsored Hyderabad-based totally rooftop sun company Freyr Energy Services Pvt. Ltd.
Asha Impact was founded in 2014 by Vikram Gandhi, a senior lecturer at Harvard Business School and a senior adviser at Canadian pension fund CPPIB, and Pramod Bhasin, the former chief government officer of IT offerings main Genpact.
The fund represents a snatch of high-net-worth buyers who immediately make investments under its banner. Last year, it participated in the Series B funding round of Nepra Resource Management Pvt. Ltd is a waste management organization under the ‘Let’s Recycle’ brand.
