Accel wants to invest $330 million in Truemeds, an Indian company

The discussions are currently focused on a suggested $330 million value for the six-year-old business with its headquarters in Mumbai, according to these same individuals, who asked to remain anonymous because the discussions are private and continuing. 

The sources warned that since the transaction hasn't been finalized, it might still not happen or the conditions could change. Requests for comments were not immediately answered by Accel or Truemeds. 

The online pharmacy sector is going through a time of turmoil and consolidation, which coincides with the possible round for Truemeds. Prosus Ventures-backed PharmEasy's valuation has dropped from a high point of $5.6 billion to less than $600 million as a result of its inability to pay back a loan to Goldman Sachs.