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Online pharma startup 1mg gets Rs 71 Crore from Bill and Melinda Gates Foundation

Shortpedia

Content Team

Gurguram-based healthcare startup 1mg has reportedly gained a total of $10 million in a venture round from the Bill and Melinda Gates Foundation. According to a deal, the foundation was allotted Class 5 Compulsorily Convertible Preference Shares (CCPS) with an amount capped at Rs 34,317.87 per share. And as per the company's regulatory filings with the MCA, a total of 20,629 shares were allotted, bringing the investment to Rs 71 crore.