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Tag: PharmEasy

  • Leadership Transition at PharmEasy: Siddharth Shah Resigns, Rahul Guha to Assume Role as CEO

    Leadership Transition at PharmEasy: Siddharth Shah Resigns, Rahul Guha to Assume Role as CEO



    API Holdings Leadership Transition: Siddharth Shah Steps Down

    API Holdings Leadership Transition: Siddharth Shah Steps Down

    API Holdings’ current CEO and cofounder, Siddharth Shah, is stepping down from his executive position. Effective August 27, 2025, he will assume the role of Vice Chairman and Director of the company.

    Rahul Guha’s New Role

    Rahul Guha, presently the MD and CEO of Thyrocare, is set to become the new MD and CEO of API Holdings. This change was disclosed in regulatory filings by Thyrocare on Wednesday, marking a significant leadership transition within the organisation. Guha will continue to manage operations at Thyrocare in addition to his new duties at API.

    Background on Rahul Guha

    Before this appointment, Guha held the title of President of Operations at API, where he played a crucial role in the integration and coordination across various group companies.

    PharmEasy’s Acquisition of Thyrocare

    For context, PharmEasy acquired a majority stake of 66.1% in Thyrocare for Rs 4,546 crore in June 2021. Guha’s new position underscores API’s commitment to consolidating leadership across its various sectors, especially as the company navigates a challenging funding landscape and anticipates a potential public listing.

    Funding and IPO Status

    API Holdings had submitted draft IPO papers in 2021 but later withdrew them due to unfavorable market conditions. PharmEasy has successfully raised approximately $1.1 billion from notable investors, including MEMG, Prosus, and Temasek. In April 2024, it secured $216 million at a significant 90% reduction in valuation, now standing at $710 million.

    Changes Among PharmEasy’s Cofounders

    Earlier this year, PharmEasy’s three cofounders, Dharmil Sheth, Dhaval Shah, and Hardik Dedhia, stepped back from the Bengaluru-based company. They have since launched a new venture named All Home, which has received an undisclosed investment round led by Bessemer Venture Partners, achieving a valuation exceeding $120 million. Siddharth Shah also participated in this investment round.


  • PharmEasy Founders Unveil All Home, Securing Funding with a 0 Million Valuation

    PharmEasy Founders Unveil All Home, Securing Funding with a $120 Million Valuation


    All Home: A New Era in Interior Design Products

    All Home, founded by Dharmil Sheth, Dhaval Shah, and Hardik Dedhia, innovates the landscape of architectural and interior design products. This platform aims to streamline various aspects of home interiors, presenting a comprehensive solution that includes categories such as sanitaryware, furniture, kitchen essentials, wardrobes, furnishings, lighting, and hardware.

    Revolutionising Home Interiors

    All Home aspires to modernize fragmented sectors within home interiors. The platform collaborates with successful, omnichannel home improvement brands, enhancing their businesses through technology, designer insights, and modern manufacturing and distribution methods driven by the internet.

    Current Brand Collaborations

    The platform is already operational, featuring partnerships with well-known brands like Colour Coats, House of W, and Fiamarc, with additional brands expected to join soon. All Home claims to have achieved operational profitability and scaled up while maintaining a low profile for the past six months.

    The Vision Behind All Home

    In a joint statement, the co-founders expressed their vision: “Following basic needs like food and clothing, the next significant consumer growth in India is anticipated in housing. All Home is dedicated to creating reliable brands that cater to how India lives, constructs, and renovates its spaces, encompassing homes, offices, and urban infrastructure.” They noted that consumers are increasingly keen on enhancing their living and working environments but often lack access to the right products and channels. Their platform aims to fill this void.

    Investment Highlights

    All Home has also completed an undisclosed investment round led by Bessemer Venture Partners, valued at over $120 million. The funding round included contributions from various notable angel investors, such as Siddharth Shah (PharmEasy), Niket Shah (Motilal Oswal), Shalibhadra Shah (Motilal Oswal), Kabir Narang (B Capital), and Ankur Gulati (Warburg Pincus), among others.

    Although the actual amount raised has not been made public, an ET report approximates it at around $20 million.

    Transition from PharmEasy

    This development unfolds five months after the founders officially transitioned from PharmEasy to embark on this new initiative in the consumer sector. Under the leadership of Siddharth Shah, PharmEasy has faced a notable decline in both revenue and valuation during FY24, with FY25 results still pending release.

  • PharmEasy Co-Founders Depart, Siddharth Shah Takes the Helm

    PharmEasy Co-Founders Depart, Siddharth Shah Takes the Helm

    PharmEasy Undergoes Leadership Transition

    PharmEasy, an online pharmacy company, is experiencing a significant change as three of its co-founders—Dharmil Sheth, Dhaval Shah, and Hardik Dedhia—have stepped down from the Bengaluru-based organisation. Siddharth Shah, the fourth co-founder, will remain at the helm of the company.

    As stated in a company announcement, the departing co-founders will still be part of the group, aligning their shareholding for long-term interest and continuing their roles as board members or observers. Nevertheless, they have indicated a wish to lessen their involvement in everyday executive duties.

    Last November, Startup Superb sought confirmation from PharmEasy’s co-founders regarding the developments, but they categorically rejected the claims.

    PharmEasy stated that the leadership transition has been in progress for several quarters, expressing satisfaction that the new team has achieved operational cash flow break-even and is managing all responsibilities efficiently.

    The co-founders remarked in a joint statement that the three of them—Dhaval, Dharmil, and Hardik—are embarking on a new journey in the consumer sector, with reputable venture capitalists who previously supported them at PharmEasy backing their new venture.

    Moneycontrol was the first to report this development.

    Funding and Valuation Insights

    PharmEasy has successfully raised around $1.1 billion from a range of investors, including Ranjan Pai’s MEMG, Prosus, and Temasek. In April 2024, the firm closed a funding round of $216 million during a down round, subsequently valuing it at approximately $710 million (post-money). However, in September, global asset management firm Janus Henderson drastically cut its valuation by 91.8% to $458 million.

    IPO Relaunch and Financial Performance

    This leadership transition coincides with PharmEasy’s plans to relaunch its initial public offering (IPO). The company first filed draft documents for an IPO in November 2021 but later withdrew the application due to unfavourable market conditions and strategic considerations.

    In terms of financial performance, PharmEasy reported a 14.8% decrease in revenue from operations, totalling Rs 5,664 crore in FY24, down from Rs 6,644 crore in FY23. Following the implementation of cost-cutting measures, the company’s losses were reduced by 51.4% to Rs 2,533.5 crore in the last fiscal year.