Tata Group, Tata Digital to acquire majority stake in online pharmacy startup 1mg | Tata Digital will buy a large stake in online pharmacy company 1mg, compete with Reliance Industries

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  • Tata Group, Tata Digital To Acquire Majority Stake In Online Pharmacy Startup 1mg

New Delhi25 minutes ago

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The Tata Group is planning to introduce SuperApp to make a strong foray into the e-commerce segment. -symbolic picture

  • 3 state-of-the-art diagnostic labs in the country near 1mg
  • Supply chain covering 20 thousand pincodes

Tata Digital, a subsidiary of the Tata Group, is all set to enter the online pharmacy segment. Tata Digital has said that it is going to buy a major stake in online pharmacy company 1mg. This is Tata Digital’s second significant startup acquisition in the digital economy after Big Basket.

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Announced investment in CureFit this week

Tata Digital earlier this week announced an investment of $75 million (about Rs 550 crore) in fitness startup CureFit Healthcare. Under this deal, Mukesh Bansal, co-founder of CureFit, will join Tata Digital as its president. The Tata Group is planning to introduce SuperApp to make a strong foray into the e-commerce segment. The recent acquisitions and investments will strengthen the Tata Group’s SuperApp.

Reliance has acquired Netmeds

The acquisition of 1mg is considered to be very important for the Tata Group. The reason for this is that recently Reliance Industries forayed into the online pharmacy segment and acquired Netmeds. Whereas FarmEasy has merged with Medlife. In the e-commerce segment, Tata Group competes with giants like Flipkart, Amazon and Reliance Retail.

Helping to provide better experience to customers

Tata Digital CEO Prateek Pal said in a statement that the investment in 1mg will help the Tata Group to better serve its customers. Also, the company will be able to provide quality healthcare products and services. Tata Digital says 1mg has 3 state-of-the-art diagnostic labs. There is a supply chain covering more than 20 thousand pincodes. Through this acquisition, Tata will also be able to foray into the B2B distribution business of digital medicines and other healthcare products.

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