The online pharmacy platform 1 mg turned into the 105th unicorn after raising $40 million led by Tata Digital Limited. The other investors who participated in the round include MPOF Mauritius, HBM Healthcare Investments, and KWE Beteiligungen amongst others. With this, the company has so far raised $230 million across 16 funding rounds at a valuation of $1.25 billion.
As per the filing of the Registrar of Companies, Tata Digital infused $32 million, whereas HBM Healthcare Investments and KWE Beteiligungen made an investment of $2.5 million and $2 million, respectively. With the investment, Tata Digital now holds 24,711 shares in the company.
Founded in 2015, Tata 1 mg was acquired by Tata Digital in 2021 with a 62.97 per cent stake in the company. The online pharmacy company has a presence in more than 1,800 cities, with as many as 260 million visitors to its website. Tata 1 mg, is currently competing with other online pharmacy brands such as Reliance’s Netmed and PharmEasy.
