India Deal Monitor: e-pharmacy 1mg snags $10m and more updates

1MG Technologies Pvt. Ltd, which operates online pharmacy 1MG, has raised about $10 million (Rs 71 crore) in funding from the Bill & Melinda Gates Foundation.

According to the filings with the Ministry of Corporate Affairs, the company has offered 20,629 class 5 preference shares at a nominal value of Rs 100 with a premium of Rs 34,317.87 per share to Bill & Melinda Gates Foundation.

The Gurugram-based startup will use the capital to meet the current and future operational needs of its business.

1MG Technologies closed its $70-million Series D funding round led by European family office Corisol Holdings and the International Finance Corporation (IFC), a part of the World Bank Group, in June last year. The round also saw participation from South Korea’s Redwood Global, Korea Omega Healthcare fund, and existing investors Sequoia Capital, Omidyar Network, Maverick Ventures, Kae Capital, and HBM Healthcare.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from February 3-February 5.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.