June 18, 2025 09:19 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Air India cancels Delhi-Paris flight too after nixing Ahmedabad-London journey | 'Can't allow mobs to take over streets, rule of law must prevail': Supreme Court slams ban on Kamal Haasan's Thug Life | Air India flight from Ahmedabad to London cancelled over unavailability of aircraft | How could Mamata Banerjee arrange alternate space so quickly?: Suvendu Adhikari cries conspiracy in Khidirpur market fire | Mumbai-bound Air India flight from San Francisco halted in Kolkata due to technical snag | Israel-Iran conflict: 110 Indian students evacuated to Armenia, to reach Delhi tomorrow | Everyone should immediately evacuate Tehran: Donald Trump as Israel-Iran conflict prevails | Khamenei appoints Major General Amir Hatami as new Iran Army chief after Israeli strikes killed top generals | Ahmedabad plane crash: Need to do extended surveillance into Boeing 787 Series, says Civil Aviation Minister | Ahmedabad plane crash: One more body recovered from debris
Tata 1mg

1mg becomes India's 21st unicorn in 2022 after internal funding round led by Tata Digital

| @indiablooms | Sep 08, 2022, at 08:19 pm

Mumbai: Online pharmacy and healthcare services company 1mg turned unicorn following an internal funding round led by Tata Digital, media reports said.

The company raised $41 million, valuing it at $1.25 billion, ET reported citing sources.

Unicorns are privately held companies with a valuation of $1 billion or more.

1 mg was acquired by Tata Digital in June 2021. The company holds a little over 62.1 percent stake in the e-pharmacy.

ET quoted sources as saying that Tata 1 mg would look to raise a bigger round later this year or the next year as it aims for a higher valuation.

1mg has also become the 21st startup to turn unicorn this year.

It is also the third unicorn under the Tata's e-commerce umbrella --- the other two being e-grocer BigBasket and Mukesh Bansal's Culfit. Bansal is also the president of Tata Digital.

The development comes amid a market sentiment that caused multiple funding deals at unicorn startups to fall through.

The prominent competitors of Tata 1 mg in the sector are PharmEasy, Reliance-owned Netmeds, and Flipkart Health Plus, which was renamed from Sastasundar after being acquired by Walmart-backed Flipkart.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
RBI announces repo rate cut Jun 06, 2025, at 10:51 am
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm