1mg (Tata 1mg) is a leading digital healthcare platform in India, offering a wide range of services, including online medicine delivery, diagnostics, e-consultations, and health-related content. Founded in 2015, the company has grown to become one of India’s most trusted online healthcare brands. Tata Digital acquired a majority stake in 1mg in 2021, further strengthening its position in the industry.
Headquarters: Gurugram, Haryana, India
Industry: Digital Healthcare, E-Pharmacy, Diagnostics
Clients: General consumers, hospitals, pharmaceutical companies, and healthcare providers
Business Model
1mg operates through the following key business segments:
a) E-Pharmacy
Description: Provides online medicine ordering and home delivery services.
Key Clients and Markets: Serves retail consumers and healthcare providers across India.
Revenue Contribution: Major revenue stream from pharmaceutical sales.
b) Diagnostics Services
Description: Offers at-home diagnostic tests, including pathology and radiology.
Competitive Advantage: Convenience, affordability, and trusted lab partnerships.
c) E-Consultations
Description: Connects users with certified doctors for online consultations.
Key Benefits: Accessibility, cost-effectiveness, and wide availability of specialists.
d) Health & Wellness Products
Description: Sells healthcare and wellness products, including supplements, medical devices, and personal care items.
Market Reach: Available across India with multiple delivery options.
What Problem is the Startup Addressing?
1mg addresses major healthcare challenges in India, including:
- Accessibility Issues: Many people in remote areas lack access to quality healthcare services.
- Affordability Concerns: High medication costs are a barrier to treatment adherence.
- Lack of Information: Patients often struggle with a lack of verified medical information.
Solutions Provided by 1mg:
- Online medicine ordering and home delivery for ease of access.
- Price transparency and discounts on medicines.
- Digital consultations with certified doctors.
- At-home diagnostic services with reliable results.
By integrating technology into healthcare, 1mg makes medical services more affordable, accessible, and efficient for millions of Indians.
Key Financial Numbers
- Revenue (Latest): ₹627 crore ($75M) as of FY 2023-24.
- Profitability: Loss of ₹146 crore ($17.5M) as of FY 2023-24.
- Growth Rate: 87% YoY revenue growth in FY 2023-24.
- Funding: Raised over $200M from Tata Digital, Sequoia Capital, and others.
- Market Valuation: Estimated at $1.25 billion as of 2024.
About the Founders
Prashant Tandon – Co-Founder & CEO
Education: MBA from Stanford University, B.Tech from IIT Delhi.
Professional Background: Experienced entrepreneur with expertise in healthcare and digital transformation.
Role in Company: Leads strategic growth and operations.
Gaurav Agarwal – Co-Founder & CTO
Education: B.Tech from IIT Delhi.
Professional Background: Expert in technology-driven healthcare solutions.
Contributions: Oversees product development, data analytics, and tech-driven innovation.
Vikas Chauhan – Co-Founder
Education & Background: Healthcare industry expert with extensive experience in digital health solutions.
Contributions: Key driver in business expansion and partnerships.
