Tata 1mg explained

TATA 1mg
Type:Private
Industry:
Founder:Prashant Tandon
Gaurav Agarwal
Vikas Chauhan
Hq Location City:Gurugram, Haryana
Hq Location Country:India
Area Served:India
Key People:Prashant Tandon (CEO)
Gaurav Agarwal (CTO)
Vikas Chauhan
Tanmay Saksena (COO)
Products:Medicine Supply
Healthcare Products
Services:
Revenue: (2023) [1]
Net Income: (2023)
Num Employees:800+ (2021)[2]
Parent:Tata 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

Notes and References

  1. Web site: Tata 1mg FY23 results. 8 August 2023 .
  2. Web site: 1mg . 6 July 2021.
  3. News: 2021-06-11. Tata Digital to acquire majority stake in 1MG. en-IN. The Hindu. 2021-08-16. 0971-751X.
  4. News: Narasimhan. T. E.. 2019-03-01. Digital healthcare platform IMG Technologies to raise $70 million. Business Standard India. 2021-08-16.
  5. Web site: Sil. Debarghya. 2020-11-04. Online Medical and Healthcare Platform 1mg Appoints Mayank Gupta as CFO. 2021-08-16. Entrepreneur. en.
  6. News: Narasimhan. T. E.. 2019-03-01. Digital healthcare platform IMG Technologies to raise $70 million. Business Standard India. 2021-07-26.
  7. Web site: Verma. Shrutika. 2015-04-20. Healthkart gets $6 million for spun-off 1MG. 2021-07-26. mint. en.
  8. Web site: 2015-04-20. Healthkart Separates & Rebrands HealthkartPlus To 1MG, Gets $6 Mn For The Newly Formed Entity. 2021-08-16. Inc42 Media. en-US.
  9. Web site: E-health Startup 1mg Gets A $15 Million Booster Dose In Funding. 2021-08-16. Forbes India. en.
  10. News: Web Team . BS . 16 November 2023 . Tata 1mg overtakes PharmEasy as leaders in India's e-pharmacy market . Business Standard .
  11. Web site: 2024-01-10 . Tata 1mg & Vitonnix UK enter exclusive partnership in India . 2024-01-10 . The Statesman . en.