POWERED BY
Presenting
1MG
Making healthcare accessible and affordable
Launched in 2013 as Healthkartplus, 1mg initially focussed on the alternative medicine space with AYUSH products. Over the years, it rebranded itself as 1mg and started offering medicines, lab tests, and doctor consultations on the go. Today, 1mg provides a wide range of healthcare services. 1mg also provides trustworthy information on medicines. It facilitates lab tests at home. At present, the platform has about 2,000 tests and 120 verified labs listed. Users can consult a doctor across 20 specialties. 1mg has delivered over 25 million orders in 1000+ cities to date. Last year, close to 70 million patients from across India accessed its e-pharmacy, e-consultation, and e-diagnostic services. The company earns from its services like diagnostics, sale of medicines, preventive healthcare, and online consultations, as well as through native ads on its platform. According to an IBEF report, the Indian healthcare industry is expected to touch $372 billion by 2020. The major factors that can contribute to this growth include rising incomes, increased health awareness, and rising lifestyle diseases. According to Anjana Sasidharan, Principal, Sequoia, the funding coming into this sector, which was $400 to $500 million in 2016, has more than doubled in the last couple of years.
  • HeathTech / MedTech / Healthcare
    HEADQUARTERS
    Gurgaon, Haryana, India
    COMPANY SIZE
    501 to 1000
    FOUNDED
    3rd Feb 2015

    Awards

    Awards and Recognitions
    12
    A YourStory list of startups in 2019 with groundbreaking ideas that are creating a deep impact.
    Started in 2013, 1mg is a healthcare platform covering all health and wellness needs, including consultations through chat, an online pharmacy, and lab tests at home. Its capability to bring all health and wellness needs under one platform has attracted the interest of key investors. According to media reports, 1mg was one of the startups showcased for Bill Gates during his visit to India in November 2019. Gates was keen to become acquainted with startups focusing on healthcare, sanitation, agricultural development, and financial services, and 1mg was among the handful of these startups. 1mg provides a wide range of healthcare services, including the delivery of prescription medicines, facilitation of doctor consultations, diagnostic services, and Ayurveda and Homeopathy medicines. The platform is recognised by the Government of India’s Ministry of Health and Family Welfare. Speaking at YourStory’s flagship event Techsparks 2019, 1mg’s Co-founder Gaurav Agarwal said 85 percent of people do not take the prescribed medicines, follow their diet, or get tests done. 1mg has been trying to understand the human psyche and how to reduce friction and motivate a patient to get better. "Data science is incredibly important for consultations. We use it for disease progression and disease prediction," he said. In June 2019, 1mg raised Series D funding of $70 million from investors such as IFC (the investment arm of the World Bank), Corisol Holdings (European family office), and Zur Rose/ DocMorris, Europe’s largest e-pharmacy, which is the largest shareholder. Going forward, the company aims to personalise care management programmes and expand its ecosystem of partnerships with hospitals, pharmas, governments, and insurance companies. It will also be looking at launching innovative online and offline care-delivery models.

    Funding

    Funding Rounds and Investors
    VENTURE-ROUND
    $10M
    Investors
    Bill & Melinda Gates Foundation
    Jan 2020
    SERIES-D
    $70M
    Investors
    Omidyar Network, Maverick Ventures, Kae Capital, International Finance Corporation, HBM Healthcare Investments AG, Corisol Holding AG, Sequoia Capital India
    Jun 2019
    SERIES-D
    $10.3M
    Investors
    Redwood Global Healthcare Fund
    Apr 2019
    VENTURE-ROUND
    Undisclosed
    Investors
    Innoven capital
    Jan 2019
    SERIES-C
    $10.1M
    Investors
    Maverick Ventures
    Mar 2018
    SERIES-C
    $15M
    Investors
    Sequoia Capital India, HBM Healthcare Investments AG, Maverick Ventures, Omidyar Network, Kae Capital
    Jul 2017
    SERIES-C
    $12.2M
    Investors
    Maverick Ventures
    Jul 2017
    VENTURE-ROUND
    $10M
    Investors
    Sequoia Capital India, Omidyar Network, HBM Healthcare Investments AG, Maverick Ventures
    Jun 2017
    VENTURE-ROUND
    Undisclosed
    Investors
    HBM Healthcare Investments AG
    May 2016
    SERIES-B
    $16M
    Investors
    Maverick Ventures, Omidyar Network, Sequoia Capital India
    Apr 2016