1mg, an India-based online pharmacy backed by semiconductor technology producer Intel, has raised $15m in a round led by investment firm HBM Healthcare Investments, YourStory reported on Wednesday.
Sequoia Capital, Maverick Capital and Kae Capital also contributed to the round, which followed an investment of undisclosed size by HBM in June 2016.
Spun out of online health supplement retailer Bright Lifecare in 2015, 1mg operates an online portal that sells pharmaceutical products, medical devices, health and wellness supplements and personal care products.
Prashant Tandon, 1mg’s co-founder and CEO, said the company has now raised $37m altogether, and will use the funding to scale its pharmacy and diagnostics offering across India.
The company launched with $6m of series A capital from Intel’s corporate venturing unit, Intel Capital, Sequoia Capital, Kae Capital, Omidyar Network and angel investor Deep Kalra, before Sequoia India, Maverick and Omidiyar Network provided $15m in May 2016.