• Chethan Machaknur

Online Pharmacy Medlife raised $6.8 Mn In Debt

Online pharmacy Medlife has raised $6.8 Mn in debt from Ivy Icon Solutions.Medlife’s parent company Medlife International Private Limited has allotted 50 compulsorily convertible debentures (CCD) at a nominal amount of INR 1 Cr per debenture, leading up to INR 50 Cr.

The development comes as Medlife is planning to get a bigger share of the online medicine delivery segment by planning a merger with rival PharmEasy. The duo has also sought the approval of the Competition Commission of India (CCI) on the merger.

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