Bright Lifecare, an India-based health and wellness e-commerce company backed by semiconductor company Intel, has spun out its pharmaceutical search business, HealthkartPlus, with $6m from existing investors, Live Mint has reported.
The new company, which will be known as 1mg Technologies, maintains a database of around 100,000 medicines and enables consumers to compare prices across multiple brands of similar medicines.
Founded in 2011, Bright Lifecare’s flagship site is Healthkart.com. It has raised about $20m from Intel Capital, Intel’s corporate venturing unit, as well as Sequoia Capital, Kae Capital and Omidyar Network. Deep Kalra, founder of MakeMyTrip, also contributed to 1mg’s launch capital.