This Indian Startup Became A Unicorn, Tata 1mg Earned Rs 319 Crore
The health startup has completed a $40 million funding round led by Tata Digital. With, this achievement has been achieved by being included in the list of unicorns.
The Modi government at the Center brought the Startup India scheme across the country, in which many companies have started well. Similarly, Tata Group-owned online health tech platform Tata 1mg has also joined the Unicorn Club.
what is unicorn
The health startup has completed a $40 million funding round led by Tata Digital. With, this achievement has been achieved by being included in the list of unicorns. Tata 1-MG has received this funding at a valuation of $ 1.25 to 1.30 billion. A startup with a valuation of more than $1 billion is called a unicorn.
the resolution passed in the company
According to the information given by Tata 1MG to the Ministry of Corporate Affairs, the board of Tata 1mg has passed a special resolution to allot 30,992 equity shares of the face value of Re 1 at a premium of Rs 1,03,046 per share. In this way, the company has raised $ 40 million i.e. Rs 319.36 crore.
Funding received at 5 times premium
The company has raised capital this time at a premium of 5 times as compared to last year. Tata 1MG is valued at $1.25-1.30 billion in the recent funding round. This is more than last time. According to the Ministry of Corporate Affairs, this funding round was led by Tata Digital. In this, KWE Beteiligungen AG, HBM Healthcare Investments, MAF Mauritius, MPOF Mauritius, and investors Rubal Jain and Vardan Sharma have invested Rs 254 crore.
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