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1mg Secures 49.72 crore From Redwood Global Healthcare fund

1mg Technologies Pvt Ltd, which is a Gurugram based online pharmacy, has now secured Rs 65.37 crore in the funding round led by the South Korean Investment Firm Redwood Global Healthcare fund.

Global Healthcare fund has now acquired the shares worth Rs 49.72 crore, according to the report of 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 investor which includes the Kae Capital, Nikhil Kumar, and Rubal Jain.

Some other existing investor Omidyar Network, Sequoia Capital India and Swiss Healthcare Focused Investment firm, HBM Healthcare Investments has also put some of the money in that round.

The startup which is founded by the Prashant Tandon in the year 2011, that was previously known by the name as HealthKart Plus, allows the customers to order the medicines, purchase health products and consult a doctor on its websites and with its app. Users can also book lab test and diagnostic services.

The startup claims to have more than 10 million unique users every month. The company has also expanded its e-consultation and labs business over the past year, with online medicine and health products accounting to around more than 60% of its revenue.

Picture Credits: 1 Mg

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