Gurugram based digital healthcare
platform 1mg has acquired Varanasi based Dawailelo.com. Post-acquisition, the
team will be working with the 1mg ePharmacy team. The acquisition will help the
1mg team to expand the company’s footprint across most parts of India.
This acquisition comes on the heels
of 1mg’s recent $15 Mn Series C funding. The new funds
were fuelled in by HBM Healthcare Investments along with existing investors
Sequoia India, Maverick Capital Ventures, Omidyar Network and Kae Capital.
1mg has been on an acquisition spree since last year. In April 2016, 1mg had raised $6 Mn from Sequoia
Capital, Intel Capital, Omidyar Network and Deep Kalra (co-founder of travel
portal MakeMyTrip).
Founded in 2013, Dawailelo is a
tech-based facilitator in the healthcare space. It helps individuals buy
medicines, consult with doctors and get lab tests done. Dawailelo was
co-founded by duo Aditya Agrawal (CEO) and Arpit Sarin. Agrawal has an
MBA in marketing from Banaras Hindu University and co-founder Arpit Sarin has a
bachelor’s degree in mechanical engineering.
On the other hand 1mg, earlier
called HealthkartPlus, was the drug search business of Healthkart, which was rebranded and spun off
into a separate entity as 1mg in April 2015. The company operates an online
marketplace for medicines apart from facilitating doctor’s appointment and
diagnostic test booking. The company claims to have over 10 Mn app downloads.
No comments:
Post a Comment