Pharmapacks, a US-based e-commerce company backed by corporates Reckitt Benckiser, McKesson, Sealed Air and Emerson Group, yesterday received $150m in funding from financial services provider JPMorgan Chase and investment firm GPI Capital.
The figure includes a credit facility from JPMorgan Chase, but details were not disclosed.
Founded in 2010, Pharmapacks operates an end-to-end e-commerce platform that handles logistics, fulfilment, marketing and sales. The company operates both its own online store and helps emerging brands sell through partner websites such as Amazon and eBay.
The money will allow Pharmapacks to expand its warehouse capabilities, accelerate investments in its inventory, drive cost efficiencies and extend partnerships.
Pharmapacks previously raised $32.5m in series A funding led by consumer goods company Reckitt Benckiser in mid-2018.
McKesson Ventures, the corporate venturing arm of healthcare firm McKesson, also participated in the series A round, as did packaging company Sealed Air and property developer Emerson Group.
