TechCrunch
Accel eyes stake in India’s Truemeds at $330 million valuation
According to half a dozen sources, Accel, the global venture firm, is in advanced discussions to lead a funding round of $30 million to $40 million in Truemeds, an Indian online pharmacy that’s focused on providing customers with more affordable generic alternatives to costly branded medications. The talks are currently centered on a proposed valuation of about $330 million for the six-year-old, Mumbai-headquartered startup, per these same sources, who requested anonymity as the deliberations are ongoing and private. Accel and Truemeds didn’t immediately respond to requests for comment.
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