Tata 1mg Raises $41 Million at $1.25 Billion Valuation

Tata 1mg is an online pharmacy and healthcare firm. It offers such services as e-consultation, e-pharmacy, diagnostics, and health content. The company aims to make healthcare accessible and affordable. Besides, Tata 1mg’s platform maintains an online medicine database where information on side effects is provided, as well as generic substitutes and home delivery for FMCG, pharmacy, and lab tests.

The funding round was led by Tata Digital. MPOF Mauritius, HBM Healthcare Investments, KWE Beteiligungen also took part in the round. After the round, Tata 1mg became Tatas e-commerce venture’s third unicorn. The company plans to enlarge its diagnostic business to position itself as a digital health platform with a wide range of services.

Tata 1mg, Gurugram, India, was founded by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan in 2015. In the beginning, it was launched as 1mg, later it was acquired by Tata Digital in 2021. As of now, the platform service covers 1800 cities, and up to that moment, Tata 1mg has delivered more than 31 million orders and has 260 million visitors. Besides, the company has several offline stores in  Delhi-NCR, which aligns with Tata 1mg’s plans to be presented both online and offline.

Previous Post

Mysten Labs Raises $300 Million at $2 Billion Valuation

Next Post

PharmEasy Raises $300 Million at around $2.5-2.75 Billion Valuation

Related Posts