No, PharmEasy is not a unicorn, as the term “unicorn” is used to refer to private companies valued at over $1 billion. As of April 2021, PharmEasy, an Indian online pharmacy platform, is valued at approximately $700 million, therefore, it does not qualify as a unicorn.
PharmEasy was founded in November 2015 by Dharmil Sheth and Lokendra Ranawat. Its platform facilitates online booking of medicines and healthcare products, lab tests, and doctor’s consultations. In December 2019, the company had a successful round of funding and raised $220 million ($202 million in equity financing and a debt of $18 million). According to the startup’s current valuation, it also counts among the 'unicorn hopefuls', as they are fast turning into unicorns.
PharmEasy has already gained success and recognition in its sector. In 2020, the platform was awarded the ‘Best E-Health Platform’ at the India Digital Awards. The company has also been featured in various organizations and journals, like The Economic Times and Inc42.
In conclusion, PharmEasy is not a unicorn, though, given its current rising popularity and success it is on track to becoming one.
