4 rising startups in India – July 5, 2016

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Healthtech in India is having an exciting week. An e-pharmacy startup acquires a diagnostic test booking company, while an AI-aided doctor consulting app brings in a solid amount of funding. A clothing rental company and an entertainment ticketing site round out today’s list of funded startups in India.

1mg

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E-pharmacy startup 1mg has been making quite a splash this year. After securing a solid US$15 million in April, it brought in another investment in May. Now, it’s added an acquisition to its list of merits: diagnostic test-booking portal Medd.

Other details of the deal have not been disclosed.

Founded in 2015 by Arpit Kothari, Akash Deep Singhal, Anurag Mundhada, and Era Dwivedi, Medd seeks to cut out the commission doctors charge for labs, helping patients schedule their tests for a lower fee than physicians’. As part of the deal, Arpit, Anurag, and Era will join the 1mg team. Ankur Gigras, former Abbott marketing head for gastroenterology, has also joined the team.

According to 1mg CEO Prashant Tandon, the company’s plans post-acquisition include expanding into new geographies and delving into radiology.

1mg’s funding history also includes a US$6 million investment in April 2015.

BookMyShow

Mumbai-based Bigtree Entertainment might not ring a bell with you, but the company owns and operates BookMyShow. The entertainment ticketing site has bagged around US$81.6 million in its fourth funding round led by US-based Stripes Group. Existing investors Network 18, Accel Partners, and SAIF Partners also participated.

The round comes on the heels of the site’s US$25 million funding last month, the same month BookMyShow launched in Indonesia.

Ashish Hemrajani, Parikshit Dar, and Rajesh Balpande founded BookMyShow in 2007. The site allows users to purchase tickets to entertainment events from movies to sports. It is present in 350 Indian towns and cities.

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