Flipkart is exploring its second e-pharmaceutical contract

Walmart-owned online retailer Flipkart is in negotiations to buy a stake in Bengaluru-based PharmaLama. This would be the second such transaction in the Indian online pharmacy business. In addition to receiving access to the platform's capabilities, Flipkart may also hire the company run by Mera Dawai Pvt. Ltd., the people added under the condition of anonymity.

Prescriptions, over-the-counter (OTC) medications, and vitamins, according to Pharmallama, are arranged into separate packets by date and time. Further information on the purchase was not immediately available. Up till the time of publication, emails submitted to Flipkart and Pharmalama were unanswered. 

In June 2020, Achintya Dayal, Arjun Raghunandan, and Dipesh Rajpal introduced Pharmallama. Kiplist is a travel technology firm run by Dayal and Raghunandan that creates software-as-a-service (SaaS) applications for the hospitality sector. Rajpal has also previously served as a founding member of the MED365 and Lifecare health technology platforms. ACG Affiliated Capsules, which calls itself one of the world's major suppliers of empty hard medicinal capsules, has donated money to the site. PharmaLama faces tough competition in the online pharmacy market from companies like Tata 1mg Pharmacies, Reliance-owned Netmeds, Apollo Pharmacy, and Amazon, among others.

There haven't been many deals in the online pharmacy industry lately. The parent company of PharmEasy, API Holdings Ltd, postponed its initial public offering in August of last year due to market conditions and strategic reasons. Instead, it obtained debt financing from the growth-stage financing platform EvolutionX Debt Capital. Moreover, Tata 1mg last year raised $40 million in a fundraising round at a unicorn value, backed by its principal stakeholder Tata Digital Ltd. 

In November 2021, Flipkart expanded into the healthcare industry by acquiring the majority of SastaSundar Marketplace Ltd, the company that owns and runs SastaSundar.com. The deal was carried out by Flipkart Health Pvt. Ltd.

Together with a few other investors, Flipkart invested in the diabetes management platform BeatO last year through its venture capital (VC) subsidiary Flipkart Ventures. Six ventures received $500,000 each from the VC arm in August of last year. The investment was a part of Flipkart Leap Ahead, the company's accelerator programme, which aims to mentor early-stage startups at scale and create innovative innovations.

The e-commerce company Flipkart Online Pvt. Ltd. announced a 31% growth in revenue for the fiscal year that ended in March 2022, totaling 10,659 crore. Nonetheless, the net loss increased to 51%. 4,362 crore in FY22 as a result of increased marketing, legal, and transportation costs.

The majority of Flipkart's income comes from e-commerce marketplaces, advertising, collection, and related support services, such as corporate agent services for insurance firms. Flipkart sought to raise $2–3 billion last year at a valuation of more than $40 billion in order to diversify its product offering in India and take on rivals. In its last venture, the corporation had raised $3.6 billion in capital in July 2021.