In Startup 50 2017: 1mg is India’s leading integrated healthcare platform including an ePharmacy, eDiagnostics, eConsultation in addition to an exhaustive repository of medical information. 1mg connects its consumers with licensed pharmacies and accredited diagnostic labs to ensure they get genuine medicines and lab sample pick-up at home.The 1mg app has over 10 million downloads and it serves 22 million unique visitors every month. This Kae Capital and Sequoia-backed company has recently acquired Dawailelo to expand into tier-2 and tier-3 cities.
Founders: Prashant Tandon, Vikas Chauhan, Gaurav Agarwal
Stared in 2015, 1mg also provides access to valuable medicine information such as uses, common side-effects, drug interactions and cheaper substitutes.
Differentiation & Innovation in Implementation
In July last year, the company entered the alternate medicine space, with the acquisition of Homeobuy, a web platform for homeopathy medicines. It also acquired Dawailelo for expansion into tier-2 and tier-3 cities.
Since its foundation, 1mg has grown organically, with 160 per cent growth in its monthly active users, 180 per cent growth in the number of sessions and 220 per cent growth in its Net GMV.
The vision of the company is to improve healthcare ecosystem in India to create a more educated and aware consumer who has access to all the information needed to participate in decisions about his/her own health. An empowered healthcare consumer will lead to a more accountable healthcare system.
Predictive analysis is also unique to the company. Not only caregivers (doctors, nurses etc),but a common person too can share information. All this data is used for predictive analysis for providing better healthcare to its consumers.
The platform has content available in various languages like English, Hindi, Tamil, Telugu, Gujarati etc,thus enabling it to reach large masses across the nation – around 18 per cent traffic is generated through the content available in local languages. Apart from this, 1mg provides content in video and audio form. All this has resulted in making 1mg the one stop healthcare destination for the people across the country.
HBM Healthcare Investments AG, Intel Capital, Kae Capital, Maverick Capital, Omidyar Network, Sequoia Capital
Series A – $6M (April 2015)
Series B – $16M (April 2016)
Series C – $15M (July 2017)
Monthly active user growth – 160 per cent
Growth in the number of sessions – 180 per cent