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Online pharmacy 1mg raises $70 mn in funding round led by Corisol, Redwood

This round of funding puts the company's valuation at around $200 million, according to market sources

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T E Narasimhan Chennai
1mg, an integrated healthcare platform, has closed a $70 million fundraise with participation from World Bank investment arm IFC. The financing round was led by Corisol Holdings, a European family office and largest shareholder in Zur Rose/ Doc Morris which is Europe’s largest e-pharmacy. This round of funding puts the company's valuation at around $200 million, according to market sources.

A consortium of venture capital funds from South Korea, led by Redwood Global – Korea Omega Healthcare fund, existing investors Sequoia Capital, Maverick Ventures, HBM Healthcare investments, Omidyar Network & Kae Capital also participated in the round.

Prashant Tandon, CEO

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First Published: Jun 28 2019 | 11:50 AM IST

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