Tata 1mg

Tata 1mg, previously 1mg,[2] is a healthcare platform based in Gurugram, India. It provides services, including e-pharmacy, diagnostics, e-consultation and health content. It was founded in April 2015 by Prashant Tandon, Gaurav Agarwal and Vikas Chauhan. [3][4]

TATA 1mg
TypePrivate
Industry
Founded2015 (2015)
FounderPrashant Tandon
Gaurav Agarwal
Vikas Chauhan
Headquarters
Gurugram, Haryana
,
India
Area served
India
Key people
Prashant Tandon (CEO)
Gaurav Agarwal (CTO)
Vikas Chauhan
Tanmay Saksena (COO)
ProductsMedicine Supply
Healthcare Products
Services
Number of employees
800+ (2021)[1]
ParentTata Digital (Majority stake)

History

In 2012, BLPL (Bright Lifecare Private Limited) started a digital health platform called HealthkartPlus.[5] In 2015, Healthkart Plus separated from BLPL to form 1MG Technologies Private Limited.[6] Healthkart continued as a platform for fitness and health products, 1mg was a generic drug search business. The primary goal of 1mg is to make healthcare accessible and economical.[7] The Gurugram based digital health startup maintains an online medicine database with information on side effects; generic substitutes, and provides home delivery services for pharmacy, FMCG and lab tests. In June 2021, Tata Digital Ltd, acquired 55% stake in 1mg to form Tata 1mg.[8]

Financials
Year Revenue (In crores) Profits/Loss (In crores) Source
FY 2017 9.37 -58 [9][10]
FY 2018 85.79 -192
FY 2019 209.1 -298.4 [11]
FY 2020 357.95 -317.8
FY 2021 309.4 -314.2 [12][13]
FY 2022 627.1 -526.1

Also Read

References
  1. "1mg". Retrieved 6 July 2021.
  2. "Tata Digital to acquire majority stake in 1MG". The Hindu. Special Correspondent. 11 June 2021. ISSN 0971-751X. Retrieved 16 August 2021.{{cite news}}: CS1 maint: others (link)
  3. Narasimhan, T. E. (1 March 2019). "Digital healthcare platform IMG Technologies to raise $70 million". Business Standard India. Retrieved 16 August 2021.
  4. Sil, Debarghya (4 November 2020). "Online Medical and Healthcare Platform 1mg Appoints Mayank Gupta as CFO". Entrepreneur. Retrieved 16 August 2021.
  5. Narasimhan, T. E. (1 March 2019). "Digital healthcare platform IMG Technologies to raise $70 million". Business Standard India. Retrieved 26 July 2021.
  6. Verma, Shrutika (20 April 2015). "Healthkart gets $6 million for spun-off 1MG". mint. Retrieved 26 July 2021.
  7. "Healthkart Separates & Rebrands HealthkartPlus To 1MG, Gets $6 Mn For The Newly Formed Entity". Inc42 Media. 20 April 2015. Retrieved 16 August 2021.
  8. "E-health Startup 1mg Gets A $15 Million Booster Dose In Funding". Forbes India. Retrieved 16 August 2021.
  9. Ahmad, Samreen (14 June 2021). "Tata Digital's 1mg buy a prescription for strong e-pharma growth". Business Standard India. Retrieved 19 May 2022.
  10. "1mg sees eight-fold hike in revenue as losses widen for FY18". Techcircle. 23 October 2018. Retrieved 19 May 2022.
  11. Tyagi, Gaurav; Vardhan, Jai (2 December 2020). "1mg's revenue crosses Rs 350 Cr; net worth erodes to negative Rs 883 Cr". Entrackr. Retrieved 19 May 2022.
  12. Rudra, Tapanjana (7 September 2022). "Tata 1MG FY22 Loss Widens To INR 526 Cr Despite Over 2X Jump In Operating Revenue". Inc42 Media. Retrieved 2 October 2022.
  13. Manchanda, Harsh Upadhyay & Kunal (29 August 2022). "Tata Digital's 1mg scales 2X in FY22, losses cross Rs 525 Cr". Entrackr. Retrieved 2 October 2022.
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