Ola likely to invest in medicine delivery startup Myra, says report

Cab aggregator Ola is in discussions to invest or acquire medicine delivery startup Myra Medicines, Mint reported on Wednesday.

The investment in the firm will be spearheaded by a common investor, Matrix Partners, and the contract is expected to close by the end of January, two people familiar with the company’s plans told Mint.

If the deal fructifies, it will mark Ola’s entry into the medicine delivery sector as the main cab-hailing business is witnessing a slowdown. The Bengaluru-based unicorn is also building its food delivery business after acquiring Foodpanda.