1MG Technologies has raised Rs. 100 crores (approx.) from Maverick Capital Ventures and certain existing investors, Sequoia Capital, Omidyar Network and Dumac. The round was led by Maverick, a venture capital arm of US-based hedge fund Maverick Capital.
1MG Technologies provides technology enabled healthcare services and information, including online marketplace for medicines, price comparison and alternatives for medicines, besides facilitating doctor appointments and diagnostic test booking. 1MG Technologies was a subsidiary of Bright Lifecare Private Limited, which is the owner the brand ‘Healthkart’. The Healthkartplus business has been demerged out of Bright Lifecare into 1MG Technologies.
1MG Technologies was represented by Link Legal’s Delhi M&A team consisted of its partner Manish Gupta and Associates Shivam Tandon and Sweta Rao. Maverick was represented by Jones Day (Robert Cardone) and Shardul Amarchand Mangaldas (Ragubir Menon, Partner, Ekta Gupta, Principal Associate and Aritra Roy, Associate). Sequoia was represented by Themis Associates’ Ashwani Verma (Principal Associate) and Rayan Azmi (Associate) and Omidyar Network was represented by Trilegal’s partner Ravindra Bandakavi and counsel, Vishwanath Singh.
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