1mg is India’s leading online pharmacy and healthcare platform. With 1mg one can order medicines and healthcare products online and get it delivered at home. Also, you can consult with qualified doctors and can book lab tests from home.
Additionally, 1mg also provides verified health content written by qualified doctors. 1mg is the first Indian website to have LegitScript certification. Currently, they provide 2,000 tests from 120 verified labs listed and users can consult a doctor across 20 specialties.
1mg vision is to make healthcareUnderstandable, Accessible and Affordable.
Index:
Who are the Founders of 1mg?
1mg is founded by Prashant Tandon, Gaurav Agarwal, Vikas Chauhan, and Tanmay Saksena.
1mg was started to solve the problem of unavailable or incomprehensible healthcare, medicine information, and lab tests. This idea grew into a company and 1mg was created in 2015. Currently, they offer their services in 1000+ cities in India.
How Does 1mg make money?
Currently, 1mg has multiple sources of revenue but as a startup, their focus is more towards growth and customer acquisition than revenue. Also, they are backed by a good team of Venture capitalists and Angel Investors for support.
These are their major revenue streams:
Sale of medicines:
1mg has made a partnership with registered medicine suppliers and stores and takes a commission as per the type of ordered medicines.
Online Labtests:
1mg also partnered with certified medical labs to collect samples from home and deliver them at the doorstep of their customers. They earn a commission on each test received from customers.
Online consultations:
1mg connect specialist doctors to patients and provide consultation to them. By connecting doctors with patients, they earn a cut on fees from the doctor’s end.
Native ads:
They also earn from native ads of medicines,test and doctors and other kind of medicianl products.
Data:
As we know that in today’s world data is one of the finest resources for any company the same is also true for 1mg. Data which they receive on ordered medicines, tests, and on the consultation can tell them more of medicinal demands, diseases, and other critical data of customers.
How much is 1mg worth?
1mg has raised a total of $191.3M in funding over 15 rounds of funding. Also, they have made multiple acquisitions like Dawailelo and MediAngels. 1mg’s latest valuation is reported to be $200 million.
Who are the Competitors of 1mg?
As this market is in its initial phase and growing at a rapid rate so lot of companies are emerging in competition to take a bigger piece of it.
Pharmeasy:
PharmEasy is one of India’s most trusted online pharmacy & medical stores offering pharmaceutical and healthcare products
Netmeds:
Netmeds is the “first-to-market” to offer a pan-India solution for the quick online purchase and fast delivery of prescription medications.
Medlife:
Medlife India’s Largest E-Health Platform, is an award-winning online healthcare app with over 1 Crore satisfied customers.
Medplusmart:
MedPlus is one of India’s leading healthcare companies with an ever-growing number of pharmacy stores, online pharmacy, path labs and optical services.
mchemist:
mChemist is an online platform that enables individuals to purchase ayurveda, herbal, and nutritional medicinal products.
Who are the Investors of 1mg?
1mg has raised a total of $191.3M in funding over 15 rounds of funding. Also, they have made multiple acquisitions like Dawailelo and MediAngels.
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FAQs
What is 1mg medicine?
1mg is India’s leading online pharmacy and healthcare platform. With 1mg one can order medicines and healthcare products online and get it delivered at home. Also, you can consult with qualified doctors and can book lab tests from home.
Who is the owner of 1 mg?
1mg is founded by Prashant Tandon, Gaurav Agarwal, Vikas Chauhan, and Tanmay Saksena.
How much is 1mg worth?
1mg has raised a total of $191.3M in funding over 15 rounds of funding. Also, they have made multiple acquisitions like Dawailelo and MediAngels. 1mg’s latest valuation is reported to be $200 million.
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