A pharmacy store in your pocket
Rushing into the conference room for his next meeting, Rajesh, a marketing executive with a consumer goods company, was sure he would not be able to visit his parents in the suburbs in time to replenish their medicine stock. His parents had medicines only for a day or two. His work could have taken a toll on the health of his parents, but not this time. He opened the app of 1mg on his smartphone and placed an order by using images of the prescriptions he had saved earlier.
1mg, an online pharmacy based in Gurgaon, helps people order medicines and also provides information and suggestions on cheaper generic substitutes. The start-up was founded by Prashant Tandon, Gaurav Agarwal and Vikas Chauhan in April 2015 to tap into the digital health space, which includes a $15-billion retail pharmacy market and a $6-billion diagnostic services one.
Recently, 1mg raised Rs 100 crore from investors led by Maverick Capital Ventures. Existing investors participated as well. It had raised Rs 34 crore in April 2015 from Sequoia Capital, Intel Capital, Omidyar Network, Kae Capital and Deep Kalra, co-founder of MakeMyTrip.
Tandon, who also co-founded and was the managing director of nutrition e-commerce company HealthKart, ventured into digital health by launching an app, HealthKartPlus, a medicine information platform, in September 2012. "The initiative grew so fast that we saw a great opportunity to create an independent business and spun off a new business branded 1mg. We believe an informed consumer can bring change in health care," he added.
1mg, an online pharmacy based in Gurgaon, helps people order medicines and also provides information and suggestions on cheaper generic substitutes. The start-up was founded by Prashant Tandon, Gaurav Agarwal and Vikas Chauhan in April 2015 to tap into the digital health space, which includes a $15-billion retail pharmacy market and a $6-billion diagnostic services one.
Recently, 1mg raised Rs 100 crore from investors led by Maverick Capital Ventures. Existing investors participated as well. It had raised Rs 34 crore in April 2015 from Sequoia Capital, Intel Capital, Omidyar Network, Kae Capital and Deep Kalra, co-founder of MakeMyTrip.
Tandon, who also co-founded and was the managing director of nutrition e-commerce company HealthKart, ventured into digital health by launching an app, HealthKartPlus, a medicine information platform, in September 2012. "The initiative grew so fast that we saw a great opportunity to create an independent business and spun off a new business branded 1mg. We believe an informed consumer can bring change in health care," he added.
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