by THE JOURNEY OF 1MG
In 2012, Healthkart was founded by Prashant Tandon and Sameer Maheshwari as an e-commerce platform for health and wellness products.
In 2015, Healthkart pivoted to focus on digital healthcare and launched its new brand, 1mg, with a range of healthcare services including online doctor consultations, medicine delivery, and diagnostic tests.
In May 2015, 1mg raised $6 million in a Series A funding round led by Sequoia India and Omidyar Network.
In September 2016, 1mg raised $15 million in a Series B funding round led by Maverick Capital Ventures, with participation from existing investors Sequoia India and Omidyar Network.
In 2017, 1mg launched its diagnostic services, allowing customers to book diagnostic tests online and receive test results digitally.
In 2018, 1mg acquired Medd, a platform that connects patients with diagnostic labs, to expand its diagnostic offerings.
In 2019, 1mg raised $70 million in a funding round led by IFC, a member of the World Bank Group, and featuring participation from existing investors Sequoia India, Maverick Capital Ventures, and Kae Capital.
In May 2020, Tata Group acquired a majority stake in 1mg, valuing the company at around $250 million, and the company was rebranded as Tata 1mg.
In 2021, Tata 1mg raised $220 million in a funding round led by new investors, including Falcon Edge Capital and Tata Sons.
As of 2023, Tata 1mg continues to expand its offerings and reach and has become one of the leading online healthcare platforms in India.
It’s worth noting that the timeline above is a rough approximation and some details may vary depending on the source of information.
Stats of Tata 1mg as of 2023:
- Tata 1mg has over 35 million app downloads and more than 20 million monthly active users, making it one of the largest online healthcare platforms in India.
- The company offers access to over 1,000,000 healthcare products, including prescription medicines, over-the-counter drugs, health supplements, and medical devices.
- Tata 1mg has partnerships with over 35,000 pharmacies across 1,000 cities in India, allowing customers to order medicines and have them delivered directly to their doorstep.
- The company’s diagnostic services offer access to over 2,500 certified labs across 50 cities in India, enabling customers to book diagnostic tests online and receive test results digitally.
- Tata 1mg has raised over $290 million in funding from investors including Tata Sons, IFC, Sequoia India, Maverick Capital Ventures, Omidyar Network, and Kae Capital.
- The company was ranked #1 in the healthcare category of the Deloitte Technology Fast 50 India 2020, which recognizes the fastest-growing technology companies in India.
- Tata 1mg has won several awards, including the Healthcare Startup of the Year at the 2020 Economic Times Awards for Corporate Excellence and the Digital Startup of the Year at the 2019 ET Startup Awards.
These statistics are based on public information available and may change over time.
