Tiger Global backs Pristyn Care at over $550 million valuation
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Pristyn Care s $53 million funding round has a minor secondary component of close to a million dollars which saw some employees take home small cheques, says Harsimarbir Singh, co-founder of the Gurgaon-based healthcare startup.
ETtech
Illustration: Rahul Awasthi
Mumbai: New York-based Tiger Global has invested more than $40 million in Pristyn Care s $53-million funding round that valued the Gurgaon-based healthcare startup at over $550 million. Existing investors Sequoia Capital India, Hummingbird Ventures, and Epiq Capital also participated in the Series D fundraise.
ET had first
reported about this funding round in its March 2 edition. Pristyn Care is Tiger Global s eleventh startup investment in India this year, five of these companies have become unicorns.
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Harsh lockdowns have brought
e-commerce to a halt in some states, which means that while overall demand for online shopping is still up, it isn’t close to matching last year’s growth.
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Regional lockdowns have hampered e-commerce sales in some states and boosted them in others. And while overall demand has grown, it hasn’t surged in the way it did last year, e-commerce executives told ET.
What’s happening: Lockdowns in some districts of Chhattisgarh have brought e-commerce activities to a halt. “We’ve been trying to tell local authorities that e-commerce is the only way to ensure people stay at home, but nothing is happening,” said a top executive.