Dealflow | August 3, 2017

New financing for 1mg Technologies’ prescription-drug comparison platform

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Prices for prescription drugs vary widely in India, even for generics, and most Indians pay out of pocket for their healthcare costs.

That makes Gurgaon-based 1mg Technologies a popular service. The 1mg app, formerly called HealthKartPlus, has been downloaded more than nine million times (and got a big word-of-mouth boost from messaging service Whatsapp.)

The company claims to have 65 million page-views per month.

The company raised $15 million in its latest round, led by Swiss healthcare investor HBM Healthcare Investments, with backing from Omidyar Network, Sequoia Capital, Kae Capital and Maverick Capital Ventures.

Last year, 1mg raised a $16 million Series B round.