1MG, An Epharmacy Startup Raises $45.4 Million Funding

1mg raises fundings

India-based startup 1mg has raised $45.4 Mn in a funding round held between December 2018 and March 2019. The funding round has seen the participation by investors- Corsiol Holding, Redwood Global, KWE Beteiligungen- AG’s subsidiary, among others.

Existing investors of the startup viz., Sequoia Capital, HBM Healthcare Investments, and Kae Capital also led the funding round.

As per the last year’s reports, the company secured $14.6 Mn(INR 101 Crore) from investors like MAF Mauritius and SCI Growth Investments.

1mg founder

Gurgaon-based HealthKart after separating from its drug search business, HealthkartPlus, rebranded it as 1MG. The startup has three business verticals- Labs, Doctors, and Pharmaceuticals.

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1mg Technologies has been reported revenue of $5.4 MIllion (INR 39.8 crore), in FY17-18. The startup has a total revenue of $3.1 million, and the diagnostics share was $1.1 Million in FY18. The stats show an increase of 268% and 214% from FY17.