Digital system will buy a majority shares in the 1mg digital health company, the latest in a series of investments that have been made by Tata Group as part of a strategy to build super applications. This step came a few weeks after buying BigBasket and announced investment in Cures.
“Investment in 1 mg strengthen the ability of Tata to provide superior customer experience and high-quality health products & services in e-pharmaceutical and e-diagnostic spaces through LED technology platforms,” said Pratik PAL, CEO of Digital Management in the release.
Prashant Tandon, Co-Founder & CEO, 1mg, said: “We are happy to hand in hand with one of the most iconic conglomerates & Indian suspects. This marks an important milestone in the 1mg trip to make high-quality products & health services that can be accessed by customers throughout India. “
Established in 2015, 1mg is a player in the eHealth room and allows easy & affordable access to various products such as medicines, health & health products, diagnostic services and telecasting to customers.
The company operates 3 diagnostic labs, has a supply chain that covers more than 20,000 PIN codes throughout the country and through its subsidiaries are also engaged in the B2B drug distribution business & other health care products.
Tata digital in a record says investment in 1mg is in line with the vision of the Group to create digital ecosystems that discuss the needs of consumers in all categories in an integrated manner. E-pharmacies, e-diagnostics and telekonsamasasts are a critical segment in this ecosystem and have become the fastest growing segment in this space, because this sector allows access to pandemic through a pandemic.
Earlier this week, Tata Digital said it would invest up to $ 75 million in the Curefit Startup Healthtech, depending on the completion of the process of perseverance and other approval. The founder of the Ceafit & CEO of Mukesh Bansal will join digital systems in the executive role as president, digital system and will also continue to lead the centurefit.
Tata Group’s ambitions for the Super-App package recently received a shot on the arm with competition regulators that provide a nod to the acquisition of digital systems from Bigbasket, one of the largest online wholesale platforms in India.
The fast-growing online pharmaceutical space has seen a lot of investment and consolidation last year. While the Fire Holdings, which has a pharmaceutical, has recently become unicorn and also plans a public list, reliance buying majority shares on NetMed. Amazon was also formed into the online pharmaceutical room in Bengaluru last August, allowing customers to order prescription-based drugs in addition to counter drugs.
Traditionally, Indian corporate houses have lived far from investing or taking bold bets in the assessment business driven by the assessment. Startups thus have to rely on foreign investors and funds for most of their funds. Investors said the steps were able to set trends for Indian conglomerates to bet on new business models.
Tata Group has great ambition for e-commerce space, which is currently dominated by Amazon, Walmart’s flipkart, with the reliance industry also developed aggressively through Jiomart.
It builds super applications under digital systems, with plans to add categories such as food, health, education, entertainment, electronics, fashion, travel, beauty and lifestyle. It also plans to utilize the strength of group companies such as Titan, Voltage, Trent, Tata Consumer Products, Tata Motors, Vistara, Tata AIG, Tata Capital and Taj and Taj, offer users a variety of services in one application in one application in one application.