HealthTech

How 1mg is changing under Tata Digital

Supriya Roy

Madhav Chanchani

July 27, 2022 | 11 Min Read

In a crowded market comprising conglomerates, MNCs and cash-rich startups, 1mg has spent the last year improving its supply chain and expanding. The Tata Digital-owned company is now raising more capital, but will it be enough to take on the heavily funded Pharmeasy and Reliance-backed Netmeds?

About two years ago, just when the first wave of the Covid-19 pandemic sparked a spike in demand for deliveries by online pharmacy players, 1mg Technologies hit the market to raise a new round of funding.

When it started out, 1mg was not meant to be an online pharma company. At least, that was not founder Prashant Tandon’s and then co-founder Sameer Maheshwari’s original business idea back in 2011. The startup was an offshoot of e-commerce platform Healthkart, best known for selling supplements. It was known as Healthkartplus – an online marketplace for health devices, personal care, fitness and nutrition supplements, sports nutrition, eye-care and so on, having tie-ups with top distributors and retailers in different cities.

But in 2015, Tandon, a McKinsey consultant with an MBA from Stanford, decided to demerge the business.

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