HealthKartPlus nabs $6 million; rebrands itself as 1MG

HealthKartPlus, an online pharmacy and drug database has managed to secure $6 million in fresh funding.
HealthKartPlus nabs $6 million; rebrands itself as 1MG

The funding was led by MakeMyTrip founder Deep Kalra along with other investors such as Sequoia Capital, Omidyar Network, Intel Capital and Kae Capital. The raised funds will be used to scale up the business and expand its reach to other cities like Mumbai, Hyderabad, Chennai, Pune and Chandigarh by the end of this year. Currently, the platform is operational in Delhi-NCR only.

HealthKart.com has separated its genetic drug search business HealthKartPlus and rebranded it to 1MG, which will now operate under 1MG Technologies Pvt. Ltd. Till date both the entities were run by Bright Lifecare Pvt. Ltd.

1MG is an online marketplace with over 10,000 drugs and their detailed comparison on pricing, composition, side-effects etc. It also claims to have qualified pharmacists on board who provide required information about a particular drug by scanning the product. The platform has over 1.5 million app downloads till date.

As per reports, HealthKart is likely to step out of the beauty, personal care, baby care and eye care categories and will focus on the fitness and nutrition business. The company is also keen on entering into fitness services market through gym membership and gym & yoga trainer services. It will also launch a meal replacement brand in the coming days.

HealthKart was founded in 2011 by Prashant Tandon and Sameer Maheshwari. The online generic drug search engine HealthKartPlus was launched in 2012. Tandon is assigned to head 1 MG, while Maheshwari will continue looking after HealthKart. The company’s raised around $22.5 million funds so far.

Publish Date
Not Sponsored
Live: People Reading Now
 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU