Tata group signs deal to acquire online medicine start-up 1MG: Reports

By VARINDIA - 2021-05-15

As per news reports, the Tata Group has inked an agreement with 1MG to buy nearly a 65% stake for around Rs 1,200 cr and become the new owner of the e-pharmacy startup.

The sources have mentioned that Prashant Tandon and Gaurav Agarwal, co-founders of 1MG will stay at the company and head the operations.

1MG's co-founders are Prashant Tandon, Vikas Chauhan, and Gaurav Agarwal. It was hived off from Healthkart in 2015. It has so far raised over $200mn across several funding rounds, including from Sequoia, IFC, and Omidyar.

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