Tata 1mg

TATA 1mg
Company typePrivate
Industry
Founded2015; 9 years ago (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) [citation needed]
ProductsMedicine Supply
Healthcare Products
Services
RevenueIncrease ₹1,968 crore (US$240 million) (2024) [1]
Positive decrease ₹−313 crore (US$−38 million) (2024)
Number of employees
800+ (2021)[2]
ParentTata Digital

Tata 1mg, previously 1mg,[3] 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.[4][5]

History

In 2012, BLPL (Bright Lifecare Private Limited) started a digital health platform called HealthkartPlus.[6] In 2015, Healthkart Plus separated from BLPL to form 1MG Technologies Private Limited.[7] Healthkart continued as a platform for fitness and health products; 1mg was a generic drug search business.[8] The Gurugram-based digital health startup maintains an online medicine database with information on side effects and generic substitutes and provides home delivery services for pharmacy, FMCG, and lab tests. In June 2021, Tata Digital Ltd. acquired a 55% stake in 1mg to form Tata 1mg.[9]

In 2023, Tata 1mg overtook PharmEasy as the market leader. PharmEasy's share dropped to 15% from roughly 33% during the same period, while Tata 1mg maintained a 31% market share, up from 19% in October 2022.[10]

In 2024, Tata 1mg and Vitonnix UK jointly introduced Vitamin Sublingual Sprays in Indian market. The first phase of the launch includes Vitamin D, Multivitamins, Biotin, and Melatonin.[11]

See also

References

  1. ^ "Tata 1mg FY24 results". 27 August 2024.
  2. ^ "1mg". Retrieved 6 July 2021.
  3. ^ "Tata Digital to acquire majority stake in 1MG". The Hindu. 11 June 2021. ISSN 0971-751X. Retrieved 16 August 2021.
  4. ^ Narasimhan, T. E. (1 March 2019). "Digital healthcare platform IMG Technologies to raise $70 million". Business Standard India. Retrieved 16 August 2021.
  5. ^ Sil, Debarghya (4 November 2020). "Online Medical and Healthcare Platform 1mg Appoints Mayank Gupta as CFO". Entrepreneur. Retrieved 16 August 2021.
  6. ^ Narasimhan, T. E. (1 March 2019). "Digital healthcare platform IMG Technologies to raise $70 million". Business Standard India. Retrieved 26 July 2021.
  7. ^ Verma, Shrutika (20 April 2015). "Healthkart gets $6 million for spun-off 1MG". mint. Retrieved 26 July 2021.
  8. ^ "Healthkart Separates & Rebrands HealthkartPlus To 1MG, Gets $6 Mn For The Newly Formed Entity". Inc42 Media. 20 April 2015. Retrieved 16 August 2021.
  9. ^ "E-health Startup 1mg Gets A $15 Million Booster Dose In Funding". Forbes India. Retrieved 16 August 2021.
  10. ^ Web Team, BS (16 November 2023). "Tata 1mg overtakes PharmEasy as leaders in India's e-pharmacy market". Business Standard.
  11. ^ "Tata 1mg & Vitonnix UK enter exclusive partnership in India". The Statesman. 10 January 2024. Retrieved 10 January 2024.

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