Tata 1mg, India’s leading e-pharmacy and digital healthcare platform, is set to expand its offline presence as it looks to raise $300 million in external funding. The move marks a strategic shift for the Tata Group-backed company, which has primarily focused on online pharmacy, diagnostics, and consultations.
Key Developments:
- Offline Expansion: Tata 1mg plans to increase its physical stores from 110 to 3,000 over the next five years.
- Revenue Growth: The company’s FY25 revenue is estimated at ₹2,500-2,600 crore, reflecting a 30-35% YoY increase.
- Funding Strategy: Tata 1mg has raised only $40 million since Tata Digital acquired a 67% stake in 2021.
- Institutional Business Growth: The company is expanding its hospital, clinic, and insurance partnerships, alongside its consumer-focused e-pharmacy services.
Competitive Landscape & Future Outlook
With Apollo 24/7, PharmEasy, and quick commerce players ramping up their presence, Tata 1mg is doubling down on omnichannel healthcare to stay ahead. CEO Prashant Tandon emphasized that offline expansion will be a key part of the company’s growth strategy, reinforcing its vision of becoming an integrated healthcare provider.
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