Funding
Tata 1mg plans more offline forays as it looks to raise $300 million
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Tata 1mg is re-entering an investment phase as the online pharmacy looks to expand its offline presence amid talks of an external funding round, according to people in the know.
Tata Digital had acquired a strategic stake in 1mg in 2021. Since then, the e-pharmacy firm has raised only $40 million, through a rights issue from Tata Digital in 2022.
The planned $300 million external fundraising for 1mg marks a shift in strategy for the salt-to-software Tata Group, which had last year asked 1mg and its grocery delivery firm BigBasket to increase reliance…
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