1mg raises $40 mn at unicorn valuation
2 years, 3 months ago

1mg raises $40 mn at unicorn valuation

Live Mint  

Tata 1mg Technologies Pvt. Ltd, which runs online pharmacy 1mg, has raised $40 million in a funding round led by its majority shareholder Tata Digital Limited at a unicorn valuation. Tata Digital Limited invested about $32 million while KWE Beteiligungen and HBM Healthcare Invested close to $2.35 million and $2 million, respectively, in the online pharmacy, according to the corporate ministry filings. In June last year, Tata Digital, a 100% subsidiary of Tata Group holding entity Tata Sons, acquired a majority stake in 1mg. Tata Digital had acquired 1mg for a cash consideration of ₹720 crore, Tata Sons revealed in its annual report for financial year 2022.

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