What is 1mg?
Established in 2015 and headquartered in Haryana, India, 1mg operates as a multifaceted digital consumer healthcare platform. The company provides a seamless interface for users to access e-pharmacy services, online medical consultations, and diagnostic lab tests. By integrating these critical health services into a single digital touchpoint, 1mg addresses the fragmented nature of the healthcare market, positioning itself as an essential utility for modern consumers seeking convenience and reliability in their medical management.
The company's market position is defined by its ability to leverage technology to bridge the gap between patients and healthcare providers. Through its strategic focus on accessibility and digital transformation, 1mg has become a cornerstone of the Indian health-tech sector, attracting significant interest from both venture capital firms and large-scale industrial conglomerates.
How much funding has 1mg raised?
1mg has raised a total of $158M across 6 funding rounds:
Series A
$6M
Series B
$16M
Other Financing Round
$10M
Series C
$15M
Series D
$70M
Other Financing Round
$41M
Series A (2015): $6M with participation from Kae Capital, Steamboat Ventures, Intel Capital, and Omidyar Network
Series B (2016): $16M led by Maverick Ventures, Omidyar Network, and Seqouia Capital
Other Financing Round (2017): $10M supported by Steamboat Ventures, Omidyar Network, and HBM Healthcare Investments
Series C (2017): $15M featuring Kae Capital, Sequoia India, Maverick Ventures, Omidyar Network, and HBM Healthcare Investments
Series D (2019): $70M backed by Redwood Global, Corisol Holdings, Steamboat Ventures, Maverick Ventures, and Korea Omega Healthcare fund
Other Financing Round (2022): $41M with participation from Tata Group
Key Investors in 1mg
Sequoia India
Sequoia Capital in India manages significant capital across venture and growth stages, acting as a value-added partner to entrepreneurs with a long-term investment horizon.
Omidyar Network
Omidyar Network is a philanthropic investment firm focused on shaping the digital revolution to promote shared prosperity and equitable technology integration.
Steamboat Ventures
Steamboat Ventures focuses on helping young companies become market leaders by investing in early to growth stage firms within the technology and consumer sectors.
What's next for 1mg?
Looking ahead, 1mg is well-positioned to capitalize on the increasing demand for integrated digital health solutions. The recent strategic backing provides the necessary runway to enhance its technological infrastructure, expand its service offerings, and deepen its penetration into the broader Indian market. As the company matures, the focus will likely shift toward optimizing operational efficiencies and exploring new avenues for value creation within the healthcare value chain.
The involvement of major corporate entities suggests a long-term vision centered on sustainable growth and market leadership. By maintaining its commitment to innovation and patient-centric care, 1mg is poised to navigate the complexities of the evolving healthcare landscape, potentially setting new benchmarks for digital health delivery in emerging markets.
