Online pharmacy startup Tata 1mg raised $40 million in a funding round led by Tata Digital

September 7, 2022

, By Team SNFYI

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Online pharmacy startup Tata 1mg raised $40 million in a funding round led by Tata Digital where KWE Beteiligungen AG, HBM Healthcare Investments, among others also participated andbecome the country’s 107th unicorn.

Tata 1mg was established to provide medicine delivery, health and wellness products, diagnostic services, and doctor consultation. During the pandemic, it grew as more customers turned to online platforms for medicine delivery and medical tests. Tata 1mg claims to have a supply chain that spans over 20,000 postal codes in India. The Indian healthtech market is expected to reach $21 billion by 2025, growing at a 26% CAGR. By 2025, the telemedicine and online pharmacy subsectors are expected to generate $5.4 billion and $4.2 billion in revenue, respectively.

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Online pharmacy startup Tata 1mg raised $40 million in a funding round led by Tata Digital

September 7, 2022

, By Team SNFYI

Online pharmacy startup Tata 1mg raised $40 million in a funding round led by Tata Digital where KWE Beteiligungen AG, HBM Healthcare Investments, among others also participated andbecome the country’s 107th unicorn.

Tata 1mg was established to provide medicine delivery, health and wellness products, diagnostic services, and doctor consultation. During the pandemic, it grew as more customers turned to online platforms for medicine delivery and medical tests. Tata 1mg claims to have a supply chain that spans over 20,000 postal codes in India. The Indian healthtech market is expected to reach $21 billion by 2025, growing at a 26% CAGR. By 2025, the telemedicine and online pharmacy subsectors are expected to generate $5.4 billion and $4.2 billion in revenue, respectively.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

B2B startup Suite42 raised $4.3 million in seed co-led by Omnivore and Orios Venture Partners

Next News

Gold loan provider startup Rupeek raised $16 million in fresh round from Accel India and Sequoia Capital

More like this

Popular

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