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HealthKartPlus gets $6M injection; rebrands itself as 1 mg

1mg (1)

Pharmacy network and medicine search engine HealthKartPlus has raised funding worth $6 million from Deep Kalra, founder of MakeMyTrip, Sequoia Capital, Omidyar Network, Intel Capital and Kae Capital, reports Mint. The funding will be used for scaling up, expanding to other cities like Mumbai, Hyderabad, Chennai, Pune and Chandigarh by end of this year.

HealthKartPlus has been rebranded to 1mg, while both HealthKart and 1mg will function as separate entities. Previously, both HealthKart and HealthKartPlus were run by Bright Lifecare, out of which HealthKartPlus will now function under 1mg Technologies. Towards the end of 2013, HealthKartPlus had expanded operations to Bangalore after serving in Delhi-NCR after their inception.

1mg offers price comparison and cheaper substitutes among exact formulations for the same medicine. It asks users to submit prescriptions for prescriptions drugs. It claims to have qualified pharmacists on board who provide relevant info about medicines by scanning products. 1mg claims to have had over 1.5 million app downloads and a database of 100,000 medicines with detailed info about side effects, interactions and compositions.

HealthKart to focus on fitness and nutrition

HealthKart will exit the beauty, personal care, baby care and eye care categories and focus on the fitness and nutrition business. It is also planning on entering the fitness services market through gym memberships and gym & yoga trainer services. The company will be launching a meal replacement brand in the coming quarter.

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HealthKart was founded by Prashant Tandon and Sameer Maheshwari in 2011 and lists health and personal care products for sale along with supplements. It launched online generic drug search engine HealthKartPlus.com in 2012. Tandon will head 1mg while Maheshwari will continue looking after HealthKart. The Mint report adds that the company has raised around $22.5 million so far.

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