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Gurugram-based startup 1mg raises $ 10 mn

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1mg Technologies Pvt. Ltd

1mg Technologies Pvt. Ltd, a Gurgaon-based online pharmacy, which makes people avail a range of healthcare related services through its mobile application, has raised a fund of worth $ 10.32 million (Rs 65.37 crore).

The funding round was led by South Korean investment firm Redwood Global Healthcare Fund recently.

With this investment, the Global Healthcare Fund will have now shares of Rs 49.72 crore in the company. The rest of the funding came from the US-based venture capital firm PinPoint Ventures, NewFlight Co, ES Investor Co Ltd, and some of the existing investors.

Founded by the Prashant Tandon in 2011, 1mg Technologies was previously known as HealthKart Plus. Through its mobile app and website, it provides customers a facility to order medicine or purchase health products, consult with doctors, and, book lab test and diagnostic services.

The company has expanded its labs and e-consultation business over the past year, with online medicine sales now accounting for 60 percent of its revenue.

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