Tata Digital , a unit of Tata sons , said on Thursday it is acquiring a majority stake in digital health startup 1mg. Tata Digital said its investment in 1mg is in line with the giant’s “vision of creating a digital ecosystem which addresses the consumer needs across categories in a unified manner.”
“We are delighted to join hands with one of India’s most iconic and respected conglomerates”, said Prashant Tandon , co-founder and chief executive of 1mg, in a statement. “This marks a significant milestone in 1 mg’s journey to make high quality healthcare products and services accessible to customers across India”. According to insight firm Tracxn, 1mg had raised $156 million prior to Thursday’s announcement and was last valued at $242 million.