Gurgaon-based 1mg Technologies Pvt. Ltd, which operates an online drug marketplace 1mg, has acquired Dawailelo.com, a technology-based facilitator in the healthcare space that helps individuals buy medicines, consult with doctors and get lab tests done.
This acquisition is aligned with 1mg expansion plans to the tier2 and tier3 cities. “We are very keen on building a pan India presence rapidly. The team at Dawailelo has done a great job understanding the requirements of the customers and has created a unique model that has shown great promise for Tier II and III cities,” said Prashant Tandon, CEO 1mg.
Under this acquisition, the Dawailelo team would be working with the 1mg ePharmacy team, reporting to COO Tanmay Saksena. “With Dawailelo team on board, in the coming months we would expand our footprint to cover most parts of India”, said Tanmay.
Dawailelo was co-founded by the duo- Aditya Agrawal (CEO) and Arpit Sarin (COO) in 2013. Agrawal has an MBA in marketing from Banaras Hindu University and co-founder Arpit Sarin has a bachelor’s degree in mechanical engineering.
Last year in February, Dawailelo had raised Rs 35 lakh in its seed funding from angel investors Madhu Gopinath, founder of Opus Group of Companies, and Naveen Nischal, director at Cygnus Medicare.
According to Aditya, “We’re looking forward to working with the 1mg team and establish an efficient and stable digital healthcare channel in the Tier II & Tier III towns of the country.” Arpit added, “It’s a good time to work in collaboration with the 1mg team and consolidate our efforts towards the common goal of delivering best healthcare services to the people.”
1mg launched in 2015 and is India’s premier digital health platform with over 10 million app downloads. It is the trusted health partner for all Indians and its mission is to make healthcare accessible, understandable and affordable for a billion Indians. It enables consumers to learn more about their medicines and also find more cost-effective substitutes. Its diagnostics service brings transparency and price-effectiveness to lab tests. 1mg’s doctor platform aims to revolutionize how a consumer finds the right healthcare professional for his needs. 1mg is an initiative taken in the spirit of public service with a vision to empower Indian consumers and caregivers to select the most appropriate healthcare service at the best possible price.
In July 2017, 1mg closed a financing round of ~$15M, led by HBM Healthcare Investments with participation from other existing investors Maverick, Sequoia India, Omidyar & Kae Capital. The company had previously raised funding from Maverick Capital Ventures, HBM Healthcare Investments, Sequoia Capital India, Omidyar Network, Kae Capital etc.