Online pharmacy marketplace 1mg (formerly known as HealthKartPlus) has raised an undisclosed amount of additional funding (to its Series B funding) from HBM Healthcare Investments, the company announced in a press statement. The company plans to use the funding for geographic expansion, investing in its technology and analytics platform, building more teams and hiring senior leadership in the next few months, 1mg’s co-founder Prashant Tandon told MediaNama over a phone conversation. On being asked the advantage the HBM funding brought it, Tandon said that HBM could potentially connect it with healthcare companies anywhere in India or abroad. In terms of geographic expansion, 1mg plans to take its presence in the current 12 cities to 30 by the end of the financial year, mostly concentrating on metros and state capitals. Tandon said that currently, the company expects to grow at 20-25% month on month, and will be 5-6 times its current size by the end of next year. As of now, 1mg claims to have 75 million visits to its platform yearly and 5.5 million app downloads. Previous funding: Last month, the company raised $15 million from Maverick Capital Ventures and existing investors Sequoia Capital and Omidyar Network to expand its online pharmacy and diagnostics, and launch digital health products like smart prescriptions and personalised health feeds. At the time, the company stated that its revenue grew 8x in the last 12 months. In April 2015, HealthKartPlus raised funding worth $6 million and rebranded itself to 1mg. Also read: Our interview…
