According to the bank website, "the proposed investment is an equity investment for the project (i) rollout of its e-pharmacy, e-diagnostics and pharma distribution to underserved cities (ii) increasing share of full stack model in large cities to improve fill rates and turnaround times (TAT) (iii) improving product mix; (iv) expanding bouquet of diagnostic services and (v)investing in brand building."
According to IFC, 1mg was founded by Mr. Prashant Tandon and Mr. Gaurav Agarwal who now serve as its Chief Executive Officer (CEO) and Chief Technology Officer (CTO) respectively. The lead investors are Maverick Ventures, Sequoia Capital, Corisol Holdings AG, HBM Investments and Omidyar Network.
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1MG TECHNOLOGIES PRIVATE LIMITED
1st floor, Motorola Building, MG Road, Sector 14, Gurugram, 122001
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