Acquires fresh investments from Deep Kalra, Sequoia Capital, Omidyar Network, Intel Capital & Kae Capital
Bright Lifecare Pvt Ltd, which operates India’s leading e-commerce 
platforms HealthKart and HealthKartPlusannounced that the two entities will function separately today onwards. With this,the company also confirmed that it has received a fresh fundingof $6 million from Mr. Deep Kalra, founder of MakeMyTrip and other investors Omidyar Network,Intel Capital, Sequoia Capital and Kae capital dedicatedfor HealthKartPlus-the online pharmacy network and drug data base which will be known as ‘1mg’ hereafter.
The new brand name and the re-launched logo strategically aligns to the company’s core business as it signifies a medical connotation; mg (milligrams), a basic unit for measuringmedicine’s strength. The Gurgaon based company, focused at driving the innovation in the consumer healthcare space is committed to make healthcare understandable, accessible and affordable for the Indian consumers through its unique features.
At the occasion, Mr. Prashant Tandon, Foundersaid, “1mg is a perfect example of how a technology product can address multiple unsolved problems in healthcare space by bringing the power of information in the hands of the consumers.”
Speaking about the re-branding he added, “What we are re-launching is more than just a name and logo. The idea was to create a brand name which reflects the right combination of What it says and What it does.”
Says Mr. Shailesh Lakhani, Managing Director at Sequoia Capital who is an investor in the business – “We have seen HealthKartPlus now called 1mg, grow rapidly from a powerful concept to a full-fledged business entity that is now ready to scale on its own. There are a lot of interesting trends coming up in the m-health space across the world and we are confident that 1mg is a pioneering & promising product in this space
With the revamped identity, company’s major focus is to bring in fresh practices to improve the quality and provide the best possible service to its consumers.
One of the investors, Mr. Deep Kalra, founder MakeMyTrip spoke at the occasion, “1 mg has a tremendous potential to be a significant player in the m-health space, one of the largest opportunity areas that is awaiting to be tapped aggressively. I’m particularly impressed with the team and strongly believethat they have the ability to spot opportunities and navigate the e-health space”, Mr. Kalra added.
Today, 1mg.com is India’s largest online database of over 100k medicines with detailed information on their side effects, interactions and composition. One of the key features that 1mg offers is the price comparison amongst exact formulations for the same medicine, to enhance awareness about the cost-effective substitutes and help consumers save on their medicine bills.
Currently operational in Delhi NCR, Bangalore and Bhubaneswar, the company is looking to rapidly expand across cities. Theweb attracts over 2.5 monthly visits and has grown organically and itsfree mobile app has received a strong rating of 4.2/5 on the Google Play Store and has been rated by over 40,000 users, validating its popularity among its customers.
With the adoption of its new name and logo, the company has simultaneously made slight changes to visual identity of the website Link: https://www.1mg.com/
The flare-up in mobile technology and applications has encouraged m-Health expansion and is expected to be a top area of growth in healthcare market as per a study conducted by Frost & Sullivan, a global market research firm. 1mg as one of the innovators, proves to be a promising player in this space.
About 1mg
1mg is India’s first and most comprehensive drug search engine and online pharmacy network. It enables you to know more about your medicine and also find substitutes from other brands as well as their cost-effective generic equivalents. It is an initiative taken in the spirit of public service with a vision to empower Indian consumers and caregivers to select the most appropriate drug equivalent that is safe and pocket-friendly.
The application is available as a web portal– www.1mg.com and as mobile app across android/ iOS/ Windows
Features Offered:
• Search for drugs – Get full information on a drug and over-the-counter medicines such as the dosage, common usage, warnings and more
• Cost comparison of generic and prescribed drugs – Find the generic drug equivalents for commonly prescribed brand-name drugs, compare prices and save money.
• Drug Interaction – Learn more about how medicine works. What are the ingredients and also precautions need to be taken before and after its use.
