Online drug marketplace 1mg has acquired Varanasi-based healthcare platform Dawailelo for an undisclosed amount, it said in a press statement.
Dawailelo, run by DL Lifecare Pvt. Ltd, helps users connect with medical stores, doctors and pathology labs through its website and app. Founded by Aditya Agrawal (CEO) and Arpit Sarin (COO) in 2013, it had raised Rs 35 lakh in seed funding in February last year.
Following the acquisition, the Dawailelo team will report to 1mg COO Tanmay Saksena, the statement added.
This is 1mg’s fourth acquisition. Previously, it acquired super-specialty e-hospital MediAngels, diagnostic and imaging tests marketplace Medd.in, and ayurvedic and homeopathic medicine portal Homeobuy.
“We are keen on building a pan-India presence rapidly. The team at Dawailelo has done a great job understanding the requirements of the customers and has created a model that shows promise for Tier II and III cities,” said Prashant Tandon, CEO of 1mg.
Gurgaon-based 1mg Technologies Pvt. Ltd, previously called HealthKartPlus, was founded by Tandon and Sameer Maheshwari in 2012. It has raised $37 million till now. In July, it raised Series C funding in a round led by Switzerland-based HBM Healthcare Investments.
1mg’s other investors include Maverick Capital Ventures, Sequoia India, Omidyar Network, Kae Capital, Intel Capital, and Mak MyTrip founder Deep Kalra.
The company operates a mobile app and web platform where customers can order medicines and select their healthcare professional requirements. It also launched diagnostics services recently.
1mg competes with NetMeds, mChemist, Pluss, Medikoe and BigChemist. Brick-and-mortar retail pharmacies such as MedPlus and Guardian Lifecare have also entered the online segment. Practo Technologies Pvt. Ltd, which sells web-based clinical management software and runs a listing platform for healthcare professionals, has also added an in-app feature that allows users to order medicines from brick-and-mortar pharmacies.
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