The online health care firm based in Gurugram, 1mg has acquired Varanasi based Dawailelo.com for an undisclosed amount in an effort to expand its operations to Tier II and Tier III cities across India. This acquisition comes close on the heels of the health tech firm 1mg’s recent $ 15 million Series C funding round led by HBM Healthcare Investments. This round also saw participation from existing investors Sequoia India, Maverick Capital Ventures, Omidyar Network and Kae Capital.
Run by DL Lifecare Pvt., Ltd., Dawailelo is a tech based facilitator that helps users connect with medical stores, doctors and pathology labs through its website and app. Dawailelo, which was co founded by the duo Aditya Agrawal (CEO) and Arpit Sarin in 2013, raised Rs. 35 lakhs in seed funding in February last year. Speaking about the acquisition, CEO Aditya said, “We’re looking forward to working with the 1mg team and establish an efficient and stable digital healthcare channel in the Tier II and Tier III towns of the country.” Cofounder Arpit added that it’s a good time to collaborate with 1mg and consolidate their efforts towards the common goal of delivering best healthcare services to the people.
Online technology pharmacy store 1mg backed by Sequoia Capital is India’s largest digital health platform. Prashant Tandon, CEO of 1mg, speaking about the acquisition said the team at Dawailelo has done a great job at understanding the requirements of the customers and have created a unique model that suit Tier II and Tier III cities very well.
Dawailelo will be 1mg’s fourth acquisition, having previously acquired super specialty ehospital MediAngels, diagnostic and imaging tests marketplace Medd.in and ayurvedic and homeopathic medicine portal Homeobuy. The company, which is keen on building a pan India presence rapidly, has raised $ 37 million in funding till now. Their mobile app has been downloaded more than 10 million times from the App Store and PlayStore. 1mg, which competes with NetMeds, mChemist, Pluss, Medikoe and BigChemist, also launched their own diagnostics services recently.
The Dawailelo team will be working with the 1mg ePharmacy team and will be reporting to the Chief Operating Officer, Tanmay Saksena.