The Tata unit has reportedly bought a 55% stake in the Intel Capital-backed digital pharmacy operator, which was valued at $200m as of mid-2019.
Tata Digital, a subsidiary of conglomerate Tata, is set to buy a majority stake in 1mg, an India-based online drugstore backed by chipmaker Intel, for an undisclosed amount, LiveMint reported today.
A source privy to the matter told TechCrunch that Tata Digital has purchased a stake sized at approximately 55% in 1mg, whcih has raised more than $220m in primary and secondary transactions that included multiple returning investors, valuing it at about $450m.
Founded by health product vendor Bright Lifecare…
