India: Online pharmacy 1MG raises $45m led by KWE Beteiligungen, Redwood

Gurugram-based online pharmacy 1MG Technologies Pvt. Ltd has raised about $45.3 million in funding between December 2018 and March 2019 led by Corisol Holding AG’s unit KWE Beteiligungen, and Redwood Global Healthcare Fund, according to the company’s filing with the Registrar of Companies (RoC) sourced by

Existing investors Sequoia Capital, Kae Capital and HBM Healthcare Investments also took part in the round. The company offered class 4A compulsorily convertible preference shares (CCPS) at a value of Rs34,417.87 per share to existing as well as new investors.

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