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TATA 1mg
Company typePrivate
Industry
Founded2015; 9 years ago (2015)
FounderPrashant Tandon
Gaurav Agarwal
Vikas Chauhan
Headquarters
Gurgaon, Haryana
,
India
Area served
India
Key people
Prashant Tandon (CEO)
Gaurav Agarwal
Vikas Chauhan
Tanmay Saksena [citation needed]
ProductsMedicine Supply
Healthcare Products
Services
Number of employees
800+ (2021)[1]
ParentTata Digital (Majority stake)

Tata 1mg, previously 1mg,[2] is a LegitScript certified[3] integrated healthcare platform based in Gurgaon, India. It provides services, including e-pharmacy, diagnostics, e-consultation and health content. It was founded in April 2015 by Prashant Tandon, Gaurav Agarwal and Vikas Chauhan. [4][5]

History

In 2012, BLPL (Bright Lifecare Private Limited) started a digital health platform called HealthkartPlus.[6] In 2015, Healthkart Plus separated from BLPL to form 1MG Technologies Private Limited.[7] Healthkart continued as a platform for fitness and health products, 1mg was a generic drug search business. The primary goal of 1mg is to make healthcare accessible and economical.[8] The Gurugram based digital health startup maintains an online medicine database with information on side effects; generic substitutes, and provides home delivery services for  pharmacy, FMCG and lab tests. In June 2021, Tata Digital Ltd, acquired 55% stake in 1mg to form Tata 1mg.[9]

Acquisitions/Partnerships

In 2016, 1mg acquired Medi Angles, a company involved in medical insurances and corporate health, and Medd.in, an online marketplace to book diagnostic and imaging test.[10] In 2017, 1mg acquired Homeobuy, online homeopathic drug store and rebranded it as 1mg Ayush.[11] It deals with homeopathic and ayurvedic medicines. In 2017, 1mg expanded its operations in tier-I and tier-II cities by acquiring Dawailelo (a Varanasi based start-up).[12] In 2018, 1mg acquired LFS Healthcare Private Limited (Droplet) and Delhi Mediart Private Limited (DMPL). While Droplet allowed home collection solutions for diagnostic services, DMPL provided wholesale trading of pharmaceuticals and healthcare products. These became wholly-owned subsidiaries of 1mg. [4]

Services

  • Pharmacy - Buy medicines online
  • Sehat ke saathi - Program to get medicine franchises at low cost
  • Tata 1mg labs - Book free collection of samples from home for laboratory tests[13]
  • e-Consultation - Consult a doctor from the comfort of your home
  • OTC - Order healthcare and wellness products
  • Tata 1mg Ayush- Ayurvedic and homeopathy medicines home delivery[11]

Funding

Tata 1mg received INR 34 crore in April 2015[14] and $6 million in 2017[15] from Sequoia Capital, Intel Capital, Omidyar Network, Kae Capital and Deep Kalra, co-founder of MakeMyTrip. In 2016, 1mg raised INR 100 crore ($15 million)[16] in a series B round led by Maverick Capital Ventures, the venture capital arm of US-based hedge fund Maverick Capital. HBM Healthcare invested $15 million series-C fund, in 1mg, in 2017. [17]

Also Read

References

  1. ^ "1mg". Retrieved 6 July 2021.
  2. ^ "Tata Digital to acquire majority stake in 1MG". The Hindu. Special Correspondent. 2021-06-11. ISSN 0971-751X. Retrieved 2021-08-16.{{cite news}}: CS1 maint: others (link)
  3. ^ ANI (2019-03-08). "1mg.com certified as safe, secure and trustworthy E-pharmacy by LegitScript". Business Standard India. Retrieved 2021-08-16.
  4. ^ a b Narasimhan, T. E. (2019-03-01). "Digital healthcare platform IMG Technologies to raise $70 million". Business Standard India. Retrieved 2021-08-16.
  5. ^ Sil, Debarghya (2020-11-04). "Online Medical and Healthcare Platform 1mg Appoints Mayank Gupta as CFO". Entrepreneur. Retrieved 2021-08-16.
  6. ^ Narasimhan, T. E. (2019-03-01). "Digital healthcare platform IMG Technologies to raise $70 million". Business Standard India. Retrieved 2021-07-26.
  7. ^ Verma, Shrutika (2015-04-20). "Healthkart gets $6 million for spun-off 1MG". mint. Retrieved 2021-07-26.
  8. ^ "Healthkart Separates & Rebrands HealthkartPlus To 1MG, Gets $6 Mn For The Newly Formed Entity". Inc42 Media. 2015-04-20. Retrieved 2021-08-16.
  9. ^ "E-health Startup 1mg Gets A $15 Million Booster Dose In Funding". Forbes India. Retrieved 2021-08-16.
  10. ^ Chopra, Arushi (2016-12-15). "E-pharmacy 1mg Technologies buys MediAngels". mint. Retrieved 2021-04-29.
  11. ^ a b Chakraborty, Sayan (2015-06-24). "Healthkart's 1mg acquires Homeobuy". mint. Retrieved 2021-08-16.
  12. ^ Khan, Taslima. "Sequoia Capital backed 1mg acquires Dawailelo". The Economic Times. Retrieved 2021-08-16.
  13. ^ "Spinny, 1MG Labs to provide on-the-spot RT-PCR collections across Delhi, Mumbai, Gurugram". www.biospectrumindia.com. Retrieved 2021-08-16.
  14. ^ Babu, Te Narasimhan & Gireesh (2016-05-16). "A pharmacy store in your pocket". Business Standard India. Retrieved 2021-07-26.
  15. ^ Chakraborty, Sayan (2015-06-24). "Healthkart's 1mg acquires Homeobuy". mint. Retrieved 2021-07-26.
  16. ^ "Online drug marketplace 1mg raises $15M from Maverick Capital, others". VCCircle. 2016-04-20. Retrieved 2021-07-26.
  17. ^ Vignesh, J. "In Series-C, digital health platform 1mg Tech gets a Rs 100-crore pill". The Economic Times. Retrieved 2021-07-26.

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