1mg Adds Itself to Unicorns After Latest Funding Round of USD 40 Million

Healthtech Platform Tata 1mg has announced a fresh funding of INR 319.4 Cr or USD 40 million by Tata Digital. This funding round led the company be 107^th unicorn of the country. Since June 2021, majority stakes in 1mg are owned by Tata Digital Ltd.

According to a regulatory filing sourced from Tofler, a special resolution of allotment of 30,992 shares valued INR 1,03,047 each is passed by Tata 1mg's board. Total value of share becomes INR 319.4 Cr. or USD 40 million.

In this fresh round of funding, Tata digital infused INR 254 Cr or USD 32 million while rest in done by other investors. KWE Beteiligungen AG, HBM Healthcare Investments, MAF Mauritius, MPOF Mauritius abd individual investors Rubal Jain and Vardaan Sharma are a few to name.

Healthkartplus, later changed to 1mg, was started in 2012 by a company named Bright Lifecare Private Limited. In 2015, BLPL and HealthkartPlus separated forming 1mg Technologies Private Limited. 1mg works as a platform to provide economical and accessible healthcare to everyone. The healthtech start-up provides digital pharmacy service to customers as well as information over topics like generic substitutes, side effects and home remedies.