What is 1mg?
Established in 2015 and headquartered in Haryana, India, 1mg operates as a multifaceted digital healthcare platform. The company provides a seamless interface for consumers to access essential medical services, including e-pharmacy solutions, online physician consultations, and diagnostic lab testing. By integrating these services into a single digital architecture, 1mg addresses critical gaps in the accessibility and affordability of healthcare in India. Its market position is defined by its ability to bridge the gap between traditional medical infrastructure and the growing demand for convenient, technology-enabled health solutions.
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 Omidyar Network, Kae Capital, Steamboat Ventures, and Intel Capital
Series B (2016): $16M led by Omidyar Network, Seqouia Capital, and Maverick Ventures
Other Financing Round (2017): $10M supported by Omidyar Network, HBM Healthcare Investments, and Steamboat Ventures
Series C (2017): $15M featuring Omidyar Network, Maverick Ventures, HBM Healthcare Investments, Kae Capital, and Sequoia India
Series D (2019): $70M backed by Steamboat Ventures, Korea Omega Healthcare fund, Corisol Holdings, Maverick Ventures, and Redwood Global
Other Financing Round (2022): $41M with participation from Tata Group
Key Investors in 1mg
Omidyar Network
Omidyar Network is a philanthropy focused on shaping the digital revolution to promote shared power, prosperity, and possibility. They engage with a diverse network of visionaries and innovators to influence the critical areas of culture, governance, business, and technology.
Steamboat Ventures
Steamboat Ventures, founded in 2000, focuses on helping young companies become market leaders. They invest in early to growth stage companies within the technology, media, and consumer sectors.
Sequoia Capital
Sequoia Capital in India manages funds capitalized at close to USD 1.4 billion and invests across venture, growth, and late stage opportunities, acting as an active, value-added partner to entrepreneurs.
What's next for 1mg?
Following the recent strategic investment, 1mg is well-positioned to accelerate its market penetration and enhance its technological infrastructure. The infusion of capital is expected to support the expansion of its supply chain capabilities and the integration of advanced diagnostic tools. As the company matures, the focus will likely shift toward deepening its integration with broader healthcare networks and optimizing its operational efficiency to maintain a competitive edge in the rapidly evolving Indian healthtech landscape. The continued support from institutional partners suggests a long-term commitment to scaling 1mg into a dominant force in the digital health economy.
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