Online pharmacy Capsule Corp. raised $300 million in a round that Chief Executive Officer Eric Kinariwala said values the six-year-old startup company at more than $1 billion for the first time.
Capsule plans to use the funds to expand to new markets and invest in its technology, Kinariwala said in an interview. The company has expanded beyond prescriptions through an app that connects people with more health offerings, such as telemedicine and mental-health services.