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Red Bull GmbH is an Austrian company that was launched in 1987. It traces its origin back to a similar drink that was called Krating Daeng. Krating Daeng was introduced in Thailand in 1976 by pharmacist Chaleo Yoovidhya.
He pitched the product as an energy booster that increased productivity and marketed it toward laborers and students. His advertising campaign included sponsoring various Thai sporting events like Muay Thai.
Dietrick Mateschitz was just another traveler on business in Thailand when he purchased and drank Krating Daeng. He claims it cured his jet lag. He sought to meet Yoovidhya and create a business partnership with him.
Together, they formulated a product that would suit the taste of Westerners, and Red Bull GmbH was born. They founded the company in 1984 in Salzburg, Austria.
Mateschitz, while branding the drink, used the English meaning of the Thai name. Daeng means Red and Krating is a large species of wild bovine native to the Indian subcontinent (known in English as a gaur or Indian bison).
It was in August of 1987 that the first can of Red Bull, as we know it today, was sold in Austria. It was re-positioned as a trendy and premium drink and introduced at a ski resort in Austria. Krating Daeng remained available as a lower-cost product.
The company continued to expand and the drink entered the United Kingdom and Germany markets in 1994, the United States in 1997 and the Middle East in 2000 and continues to grow.
Over the years, RedBull has added many variations to the energy drink, based on the same formula but offering different flavors and colors. It began with a sugar-free version in 2003 called RedBull Sugarfree and added variants like RedBull Zero, RedBull Total Zero, and RedBull Energy Shot.
In 2013, RedBull began offering different flavors with the launch of RedBull Editions. Initially available in cranberry, lime, and blueberry, it added various other flavors, some of which are available only during certain seasons or in specific countries.
In 2018, Organics by RedBull was launched with a line of organic sodas in flavors of bitter lemon, ginger ale, tonic water, and a new version of a cola called Simply Cola.
Red Bull is one of the most popular beverage brands that are famous for its drink
and its tagline “Red Bull gives you Wiiings”. But this tagline cost Red Bull nearly 13 million. Let’s understand the complete story behind Red Bull’s 3 i’es.
It was in 1997 that RedBull commercials were released bearing its now famous slogan “RedBull Gives you Wiiings”. Red Bull advertisement inspires energy and adventure.
Being advertised as an energy drink worldwide, RedBull has used extreme sports as its advertising vehicle of choice. It began sponsoring athletes in 1989, focusing on sports like Formula One racing and extreme sports like windsurfing and hang gliding.
Red Bull Motorsports
It later expanded into sponsoring mainstream sports like MotoGP, Mountain Biking, Skateboarding, Kayaking, Rowing, Cliff Diving, Basketball, and Soccer. It has also held sponsorships in Esports.
The Famous Red Bull Slogan
“Red Bull Gives you Wings” became that slogan that gained significant ground for the company through its effective marketing strategy. It added an air of mystery to a drink that is a carbonated drink containing sugar, caffeine, and other ingredients that add flavor and color.
Red Bull Slogan
This genius slogan boosted the energy drink into a global phenomenon as a vitalizing energy booster drink. The idea of the drink ‘giving you wings’ was metaphorical and illustrated the energy boost that an individual would receive after consumption. However, there is no saying when something can be misconstrued. And that is exactly what happened in the case of Red Bull.
The Court Case Citing False Marketing by Red Bull
After twenty years of seeing the circle of success, much of it based on its clever slogan, RedBull fell prey to its ingenuity and gallantry. How the genius of the marketing slogan “RedBull gives you Wings” was called into question is a 13-million-dollar story.
A US citizen named Benjamin Carethers questioned – “Why doesn’t RedBull give me wings?” He sued the company for ‘false advertising. He claimed that after 10 years of drinking Red Bull, he had neither grown wings nor had seen any athletic or intellectual enhancement in his performance.
His claim read – “Even though there is a lack of genuine scientific support for a claim that Red Bull branded energy drinks provide any more benefit to a consumer than a cup of coffee, the Red Bull defendants persistently and pervasively market their product as a superior source of ‘energy’ worthy of a premium price over a cup of coffee or other sources of caffeine.”
As per the consumer court documents that were filed in the New York Federal Court, the officials of the energy drink chose to settle with Benjamin Carethers. Red Bull also agreed to pay cash up to $10 to all the people who purchased Red Bull in the last decade, instead of cash customers also had an option to go with two Red Bull products worth $15. The complete payout was capped at no more than $13 million.
Why Did Red Bull Add Extra ‘ii’ in Its Tagline?
Red Bull had learned a hard lesson. They also realized that their marketing slogan was catchy and the tagline had gathered global attention that was driving their sales.
So, in a bid to keep their tagline intact, they added two ‘ii’s to their word wings. And that is how the slogan became – “RedBull Gives you Wiiings”. That is how a successful business works.
Red Bull continues to grow and expand. It now owns football teams with clubs in Austria, Germany, the United States, and Brazil. The company enlisted Adrian Newey in 2010 to design a prototype racing car called the RedBull X2010. This was for the video game Gran Turismo 5. Earlier this year, Red Bull announced the full production of a hypercar called RB17, also designed by Adrian Newey.
FAQs
Who created the slogan Red Bull gives you wings?
Dietrich Mateschitz and his team created the popular tagline in the 1980s.
What is the story behind Red Bull’s slogan?
Red Bull was sued for false advertising by a customer Benjamin Carethers. Red Bull settled the case and had to pay around $13 million.
Why does Red Bull spell wings with 3 I? What is the meaning of wiiings?
Red Bull spells “wiiings” with three ‘i’s in its slogan “Red Bull gives you wiiings” as a creative and playful branding strategy. It grabs attention, makes the slogan more memorable, and avoids legal claims about literal promises, ensuring it’s seen as a metaphor for energy and performance rather than a factual statement.
What is Red Bull Gives You Wings new slogan?
“Red Bull Gives You Wings. Wiiings for Every Taste”, is the new slogan of Red Bull.
What is Red Bull tagline case?
Red Bull faced a lawsuit in 2013 claiming its slogan, “gives you wings,” was misleading. It settled in 2014 for $13 million without admitting fault, offering refunds or free products.
Why did Red Bull change to wiiings?
Red Bull changed “wings” to “wiiings” to make the slogan playful and memorable while avoiding legal issues by clarifying it as a metaphor, not a literal claim.
Red Bull did not change its slogan or tagline but slightly modified the spelling to “Red Bull gives you wiiings” to make it playful and avoid legal issues after a 2014 lawsuit claimed the slogan was misleading.
In a world where each individual is a unique mosaic of experiences, passions, and goals, the path to success is as varied as the individuals themselves. The many educational backgrounds people bring are crucial to this variation fabric.
Every choice made on Shark Tank India is based on a wealth of experience and expertise fashioned by the different educational backgrounds of its respected judges. These diverse fields provide a thorough understanding of business principles and invaluable insights into various industries and market dynamics.
In this post, we’ll look at all Shark Tank India judges’ educational backgrounds and how they’ve applied their qualifications and expertise in the real world.
Vineeta Singh was born in Anand, Gujarat, India, in 1983 and is 40 years old as of 2023. She completed her schooling at Delhi Public School R. K. Puram, New Delhi, from 1987 to 2001. She graduated from the Indian Institute of Technology, Madras, with a B.Tech in Electrical Engineering. While at IIT Madras, she did her three-month summer internship with I.T.C. Limited in Kolkata. In 2005, she graduated from the Indian Institute of Management in Ahmedabad with an MBA She worked as an intern for three months at Deutsche Bank in both London and New York while she studied for her MBA. Vineeta Singh worked on projects with the strategic equity transaction group in New York and the emerging markets structuring team in London during her internship.
Delhi University, Institute of Chartered Accountants of India, Indian School of Business, Kellogg Graduate School of Management
Shark Tank India Judges – Aman Gupta
Aman Gupta finished his education at Delhi Public School, R. K. Puram, New Delhi. He later pursued a Bachelor of Commerce (Hons.) degree at Shaheed Bhagat Singh College. He attended the Institute of Chartered Accountants of India from 1999 to 2002 to pursue his studies in accounting, finance, and chartered accountancy. He then enrolled in the Indian School of Business to pursue an M.B.A. in Finance and Strategy. Following that, in 2011, he enrolled in Northwestern University’s Kellogg School of Management’s student exchange program to pursue an M.B.A. in General Management and Marketing.
MBA in Operations & Strategic Management (Boston College, US)
Shark Tank India Judges – Anupam Mittal
Anupam Mittal’s widespread fame stems from his position as CEO and founder of Shaadi.com and the People Group. Having started internet enterprises before the internet bubble, Mittal is among the pioneering technology-driven entrepreneurs in India. In addition, he has produced Bollywood films Flavors and 99 under the banner of his parent firm, People Group. He was born in Mumbai, India, and completed his education at Jai Hind College. He earned his M.B.A. degree in operations and strategic management from Boston College in Massachusetts.
Institute of Chartered Accountants of India, Duke’s Fuqua School of Business
Shark Tank India Judges – Namita Thapar
Emcure Pharmaceuticals’ Executive Director and Shark Tank India investor Namita Thapar is an incredibly successful businesswoman. Her professional accomplishments are matched by her ownership of luxurious mansions, a fleet of exquisite cars, and a net worth in the crores. She finished her primary and secondary schooling at a school in Pune. Namita gave up all extracurricular activities in school to focus solely on academics. She was an excellent student who consistently ranked top in her class. Following her education, Namita enrolled in the B. Com. program at Savitribai Phule Pune University in Pune. She also pursued her ICAI chartered accountancy degree in the interim. Namita then attended Duke University’s Fuqua School of Business in Durham, North Carolina, to get an MBA.
Peyush Bansal, born in Delhi, India, began his education at Don Bosco School in New Delhi. Peyush Bansal has demonstrated his inventive energy and passion for value creation through his entrepreneurial experience. His academic aspirations led him to prestigious schools such as McGill University, where he earned a Bachelor of Electrical Engineering. He then enrolled in the Management Programme for Entrepreneurs and Family Businesses (MPEFB) at the Indian Institute of Management, Bangalore.
Amit Jain received his early education at St. Xavier’s School in Jaipur. After finishing school, Amit passed the IIT entrance exam and was accepted into IIT Delhi in 1999.
College Dropout, Sacred Heart School, and St. Johns Senior Secondary School
Shark Tank India Judges – Ritesh Agarwal
Ritesh attended Sacred Heart School in Rayagada, Odisha, and later graduated from St. Johns Senior Secondary School in Meerut Cantt, Uttar Pradesh, India. Then, to prepare for the IIT entrance exam, he traveled to Kota, Rajasthan. Following that, he enrolled in the Indian School of Business and Finance in Delhi’s University of London International Program in 2011 and eventually dropped out. He became the first Asian recipient of the $100,000 Thiel Fellowship grant, equivalent to Rs. 55 Lakh at the time.
During his school years, Deepinder Goyal performed below average and had difficulty passing his classes until he reached class 8. For the first time, Deepinder placed third in the class during his first semester of study sessions in class 8 when one of his teachers provided him with a solved answer sheet. Inspired by the praise he got from his parents and professors, he decided to continue his studies henceforth diligently. After two years of improved grades, his parents moved him to D.A.V. College in Chandigarh for classes XI and XII, where he studied science.
He was able to pass the Indian Institutes of Technology, Joint Entrance Examination on his first attempt despite the difficulties he encountered throughout his academic career. He subsequently attended the Indian Institute of Technology, Delhi, to pursue an engineering degree.
Mathematics and Computer Science, IIT Delhi (Dropped out)
Shark Tank India Judges – Azhar Iqubal
Azhar Iqubal is an Indian entrepreneur who co-founded and serves as the CEO of the news app Inshorts. After completing his schooling, he began preparing for the IIT JEE. He began studying at the Indian Institute of Technology Delhi in 2009, pursuing engineering and computer science. In 2012, he left IIT to pursue his entrepreneurial dreams.
B.S.E in Entrepreneurship, Operation & Information Management, Wharton B.A.S in Engineering
Shark Tank India Judges – Kunal Bahl
Kunal Bahl grew up in India and went to Delhi Public School R.K. Puram for his early education. He later studied at the University of Pennsylvania, where he joined the prestigious Jerome Fisher Program in Management and Technology. He secured two bachelor’s degrees—one in Entrepreneurship, Operations & Information Management from The Wharton School and another in Engineering from the School of Engineering and Applied Science respectively. He also completed an executive marketing program at the Kellogg School of Management to further build his business skills.
Ronnie Screwvala’s name is synonymous with innovation and achievement in the realm of educational technology. As the founder of upGrad, he has transformed online education in India, enabling thousands of students to advance their careers and thrive in the digital era. He completed his education at Mumbai’s Cathedral and John Connon Schools before earning his degree from Sydenham College. His father worked in the film business, instilling a passion for entertainment and media in him from an early age. Ronnie Screwvala’s parents had other plans for him. However, he still aspired to start his own business while attending university in Mumbai.
MBA from Mudra Institute of Communications Ahmedabad
Shark Tank India Judges – Varun Dua
Varun Dua is the founder and CEO of Acko. He is also the owner of CoverFox. Having worked in the insurance industry for over a decade, Varun was responsible for technology-enabled efficient customer service and marketing analytics for primary business acquisition. He earned a commerce degree from the R. A. Podar College Of Commerce & Economics in Mumbai, Maharashtra. After graduation, he took the C.A.T. exam. Later, he earned a master’s in Strategic Marketing and Communications from Mudra Institute of Communications in Ahmedabad, Gujarat.
Industrial Marine Engineering at Singapore Polytechnic
Shark Tank India Judges – Viraj Bahl
Viraj Bahl is the Founder and Managing Director of Veeba (VRB Consumer Products Pvt. Ltd.), a leading consumer food brand. He will join the panel of Sharks forShark Tank India season 4. Viraj is known for his deep understanding of the food industry. He is excited to share his knowledge and mentor entrepreneurs with great, scalable ideas.
His experience in building a successful business will help guide those looking for investments and advice. Viraj has studied Industrial Marine Engineering at Singapore Polytechnic.
Managing Director and CEO of Edelweiss Mutual Funds
Education
B.Sc in Economics
Shark Tank India Judges – Radhika Gupta
Radhika Gupta is the managing director and CEO of Edelweiss Mutual Fund, which established a mutual fund company worth Rs 1 trillion in just five years. Due to her father’s transferable employment, Radhika Gupta finished her education at various institutions across multiple nations. She graduated from Delhi Public School in India, the American International School in Abuja, Nigeria, and Marymount International School in Rome, Italy.
She later graduated from the University of Pennsylvania’s Wharton School with a B.S.E. in economics in 2005. She also finished the Jerome Fisher Program in Management and Technology.
Ashneer Grover is a graduate of IIM Ahmedabad and IIT Delhi. Ashneer Grover finished his schooling in Delhi. Following that, he received his B.Tech from the Indian Institute of Technology. While studying at IIT Delhi, he was chosen for a student exchange program at the National Institute of Applied Sciences, known as INSA Lyon, France. This engineering school is among the most prestigious and largest in Europe. With a €6,000 grant from the French Embassy, he relocated to INSA Lyon in 2002. Grover then attended the Indian Institute of Management, Ahmedabad in 2004 to pursue an MBA in finance and graduated in the year 2006.
Ghazal Alagh is an Indian businesswoman and the Chief Mama of Mamaearth, a natural, toxins-free cosmetics brand. Ghazal Alagh graduated from Punjab University with a Bachelor of Science in Computer Applications. 2013 she completed a Summer Intensive Course in Modern Art in Design and Applied Arts. She also completed a rigorous figurative painting course at the New York Academy of Art that same year.
Bangalore University, Symbiosis Centre for Management & Human Resource Development, Pune
Shark Tank India Judges – Vikas D Nahar
Co-founder and CEO of Happilo, Vikas D. Nahar is a Special Guest Judge on Shark Tank India. Nahar hails from a farming family that produces coffee and pepper. After completing his schooling in Bangalore, he attended Bangalore University to acquire a Bachelor’s in Computer Applications in 2005. After that, he completed his MBA in marketing at Pune, Maharashtra’s Symbiosis Centre for Management & Human Resource Development (SCMHRD).
In conclusion, the judges of Shark Tank India have a variety of educational backgrounds, which emphasizes the value of interdisciplinary knowledge and practical experience in the business world. Each judge contributes a distinct viewpoint influenced by their academic journey, drawing from famous institutions such as IITs and IIMs as well as international universities and specialized programs.
FAQs
Who is Aman Gupta?
Aman Gupta is the co-founder and Chief Marketing officer of the company boAt.
What is the education of Peyush Bansal?
Peyush Bansal began his education at Don Bosco School in New Delhi. His academic aspirations led him to prestigious schools such as McGill University, where he earned a Bachelor of Electrical Engineering. He then enrolled in the Management Programme for Entrepreneurs and Family Businesses (MPEFB) at the Indian Institute of Management, Bangalore.
Who is Vineeta Singh?
Vineeta Singh is the co-founder and CEO of Sugar Cosmetics.
What is Shark Tank India?
Shark Tank India is a platform that provides opportunities to new entrepreneurs who will be able to entice the sharks with their ideas. The Sharks will invest in those businesses that they will find suitable.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations.
An online pharmacy internet pharmacy, or mail-order pharmacy is a pharmacy that operates over the Internet and sends orders to customers through mail, shipping companies, or online pharmacy web portals. 1mg is a digital consumer healthcare platform, or an online pharmacy center, that makes healthcare accessible, understandable, and affordable.
1mg was launched in April 2015 after Healthkart separated its generic drug search business, HealthkartPlus, and rebranded it as 1mg. It allows users to find information about medicines prescribed by doctors and also buy it online. Users can find medicines by ailments, class, companies, and brands.
Let’s go through Tata 1mg’s Startup Story and get a glance at Tata 1mg funding, business model, company profile, turnover, growth, revenue model, founders & more.
Tata 1mg is a developer of an online drug delivery platform intended to make healthcare accessible, understandable, and affordable.
The company delivers medicines and health products online along with lab test booking, online consultations, and authentic information from healthcare professionals, thereby enabling customers to meet all their healthcare needs in one platform hassle-free.
1mg.com brings to us, an online platform, which can be assessed for all our health needs. With AI being hailed as the technology of the future, every startup is trying to adapt it in some capacity to streamline and optimize their offerings. Tata 1mg recently started offering a feature, ‘Ask a Doctor,’ which is an intuitive chatbot that asks questions to accurately identify what the problem may be and shows the medicinal specializations under which the ailment may fall. Users can choose from one of them and a doctor, who can diagnose the problem via chat, is assigned to you.
Tata Digital, a subsidiary of Tata Sons Private Ltd. acquired a major stake in 1mg to further widen the former’s digital offerings on June 10, 2021. Though the amount is still not disclosed by the source, the total valuation of 1mg was $400 million.
Tata 1mg had the highest number of downloads (184.2K) among telemedicine startups during Jan 1-Feb 10, 2021, as per AppTweak data. It has invested in expanding its cold chain and in contact with vaccine makers for partnerships to participate in COVID-19 vaccination (when the government allows the private sector to get in)
Tata 1mg is all about medicines and the basic unit for a medicine’s strength is measured in milligrams (mg). And to top it all, 1 MG Road was where the company’s first office was located.
Tata 1mg Logo
Tata 1mg – Founder and History
Gurugram-headquartered e-pharmacy startup Tata 1mg (earlier as HealthKartPlus) was founded by Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan in 2013.
The website was started as HealthKartPlus, a platform for users to have all the information about the medicines. The platform became so popular and got a huge response from the public and users asked the company to start the delivery of the medicines too. Thus, Tata 1mg was started.
Tata 1mg was launched in April 2015 after Healthkart separated its generic drug search business, HealthkartPlus, and rebranded it as 1mg. The company has three business verticals — Pharmaceuticals, Labs, and Doctors.
The company’s mission is to make healthcare accessible, understandable, and affordable for one billion Indians through a comprehensive website and mobile app. Tata 1mg enables consumers to learn more about their medicines in addition to finding more cost-effective substitutes.
Tata 1mg – Business Model
Tata 1mg provides services like diagnostics, medicine, preventive healthcare, and online Q&A to its users. Apart from this, they also have native ads on their platforms for pharma companies. In the past year, The company has expanded its pharmacies to 600 cities and also expanded its product range to include homeopathy and Ayurveda range.
The company used its app to spread information on medicines. They are using push notifications and emails to expand and let people know that they are living in their city. The company also uses offline advertisements depending on the city. They use newspaper advertisements and health camps to spread information. However, a majority of their marketing is digital.
Tata 1mg makes money with online diagnostics and lab testing services. These account for a majority of their annual revenues. Online medicine delivery, B2B healthcare solutions, and subscription-based care plans form up the rest of their yearly finances.
Tata 1mg – Revenue and Growth
Tata 1mg Financials
2023
2024
Operating Revenue
INR 1627 crore
INR 1968 crore
Total Expenses
INR 2894 crore
INR 2303 crore
Profit/Loss
INR -1255 crore
INR -313 crore
Tata 1mg Financials FY24
In FY24, Tata 1mg’s operating revenue increased by approximately 21%, rising from INR 1627 crore in FY23 to INR 1968 crore. Total expenses decreased by about 20%, dropping from INR 2894 crore to INR 2303 crore. As a result, losses reduced significantly by nearly 75%, improving from INR 1255 crore to INR 313 crore.
EBITDA
FY23
FY24
EBITDA Margin
-71.66%
-10.85%
Expense/₹ of Op Revenue
₹1.78
₹1.17
ROCE
-341.99
NA
Tata 1mg saw strong and steady growth in FY23 without spending too much cash. FY23 was also its first full year under Tata Digital.
1mg’s operating revenue jumped 2.5 times to INR 1,627 crore in FY23, up from INR 627 crore in FY22, as per its financial reports. Earlier, in FY22, the company had nearly doubled its revenue from INR 309 crore in FY21.
As per regulatory filings,Tata1mg’s total revenue was INR 369.3 crore in FY20, which is over a 77% jump from the company’s revenue which stood at INR 209.1 crore in FY19.
Selling medicines online hasn’t been all easy as this space witnessed regulatory challenges back in 2019. While the Delhi High Court had ordered all state governments to ban the online sale of medicines in January last year, the central drug regulator had asked states to enforce a court directive prohibiting online medicine sales this month.
Amidst this regulatory uncertainty, Gurugram-based Tata 1mg has demonstrated decent growth with a 2.8X jump in operating revenue. Registering 180% growth, it has posted a total operating revenue of INR 240.85 crore.
The company collected Rs 39.45 crore from offering marketplace services and INR 68.3 crore through online diagnostics and lab testing services in the year ending March 2019. It also made INR 67.8 lakhs from collection charges.
Importantly, the overall revenue from services grew 90.2% from INR 41.8 crores in FY18 to INR 79.5 crores in FY19. All services together accounted for a little over one-third of the total revenues generated by Tata 1mg during last fiscal in 2019.
Tata 1mg has raised a total of $230.8 million in funding over 16 rounds. Their latest funding was raised on Sep 6, 2022 from a Corporate Round led by Tata Digital. This funding round made Tata 1mg a unicorn as the company was valued $1.25 and $1.30 billion after raising $40 million in funding. Tata 1mg is funded by 10 lead investors. Tata Digital is the most recent investor.
Tata 1mg funding details are as follows –
Date
Round
Amount
Lead Investors
September 6, 2022
Corporate Round
$40M
Tata Digital
April 19, 2021
Debt Financing
$13.3M
Tata Group
Jul 3, 2020
Debt Financing
$17.8M
–
Jan 31, 2020
Venture Round
$9.48M
Bill & Melinda Gates Foundation
Jun 28, 2019
Series D
$70M
Corisol Holding AG, International Finance Corporation
Apr 5, 2019
Series D
$10.3M
Redwood Global Healthcare Fund
Jan 1, 2019
Venture Round
–
InnoVen Capital
Mar 1, 2018
Series C
$10.1M
Maverick Ventures
Jul 26, 2017
Series C
$15M
HBM Healthcare Investments AG
Jul 1, 2017
Series C
$12.2M
–
Jun 30, 2017
Venture Round
$10M
HBM Healthcare Investments AG, Sequoia Capital India
May 31, 2016
Venture Round
–
HBM Healthcare Investments AG
April, 2021
Debt Financing
$13.35M
Tata Digital
Tata 1mg – Acquisitions
Tata 1mg has acquired 3 organizations. Their most recent acquisition was Dawailelo on Sep 1, 2017.
Acquiree Name
Date
Amount
About Acquiree
Dawailelo
Sep 1, 2017
–
Dawailelo is a Varanasi-based healthcare startup that helps people connect with medical stores
MediAngels
Dec 14, 2016
–
MediAngels delivers healthcare globally
Medd.in
July 5, 2016
–
Medd.in is an online platform to book diagnostic and imaging tests
Tata 1mg – Competitors
Tata 1mg’s top competitors are Netmeds, Practo, Medlife, PharmEasy, Metarain Distributors Private Limited, HealthKart, CareOnGo, mChemist and BookMEDS.
In 2014, just a year after they started off, Tata 1mg won the m-billionth award for m-health in South Asia. They were also recognized as the most promising healthcare startup by News Corp VCCircle. In 2016, Tata 1mg was acknowledged as the Best App in the medical category by Gmasa.
They also won the award for the best online pharmacy in India at the International Quality Awards. They achieved the title ‘New Kid on the Block’ at the NDTV Unicorn Awards in the same year.
Tata 1mg was recognized as one of the Top 50 ventures in the Smart CEO-Startup50 India 2017 program. By the year 2017, the company had grown by 600% in terms of the success of the Tata 1mg app and user engagement. They expanded their product range to encompass Ayurvedic medicines and homeopathy.
Within the years 2016 and 2017, the company had raised 37 million dollars through 5 rounds of funding. In 2018, Tata 1mg won the BML Munjal Award for ‘Business Excellence through Learning and Development’. During the Content Leadership Awards in 2018, they won the title ‘Best Content in a Healthcare/Fitness App’. Tata 1mg was also recognized as the ‘Best Mobile Innovation for Health award ‘ at the India Mobile Congress.
1mg was initially started as HealthKartPlus, a platform that aggregated medical information and sold alternative medicine to its users. The platform caught up quickly with the users and soon the users began asking for delivery of medicines to be included as well. At a time when information and awareness about medicines and lab tests were either minimal or non-existent, 1mg aimed to change it.
Tata 1mg has a system in place where they onboard vendors onto the platform if they meet certain requirements like computerized inventory and invoicing, which makes end-to-end tracking easier for the customer. The startup can generate business even after strict government compliances which banned online pharmacies by making a prescription mandatory to make a purchase.
Tata 1mg – Future Plans
Aggressively moving towards its expansion plans, Tata 1mg has decided to expand the scope of its platform and is entering the alternate medicine space (AYUSH categories) through the acquisition of Homeobuy.com. Homeobuy is a web platform for homeopathy medicines.
With this acquisition, Tata 1mg will re-brand the website to www.1mgAyush.com and make homeopathic & ayurvedic medicines available to customers in New Delhi. The Indian government has also been actively supporting and developing the AYUSH categories, as a strong system of medicine that has evolved over a long period of time.
After Tata Digital’s acquisition of the majority stakes in Tata 1mg, the company announced that they are looking forward to promising 60-minute deliveries in selected locations around the country. Tata 1mg is known for 4-5 hour deliveries in a bunch of locations, which will also be extended to other locations as well.
“We are the platform that stands for consumer health and we believe the alternate forms of medicines are equally important. Having seen the importance of these alternative forms of medicines and our government’s support in promoting them, we aim at creating an exhaustive platform for all health solutions. The business will continue to work on a marketplace network model and partner with quality vendors in this sector,” said Prashant Tandon.
FAQs
What is 1mg?
1mg is a digital consumer healthcare platform that makes healthcare accessible, understandable, and affordable. It allows users to find information about medicines prescribed by doctors and also buy them. Users can find drugs by ailments, class, companies, and brands.
Who is Tata 1mg founder?
Prashant Tandon, Gaurav Agarwal, and Vikas Chauhan are the founders of 1 mg company.
Who is the CEO of 1mg?
Prashant Tandon is the CEO & Co-Founder at 1mg.
How does 1mg make money?
1mg makes money with online diagnostics and lab testing services. These account for a majority of their annual revenues. Online medicine delivery, B2B healthcare solutions, and subscription-based care plans form up the rest of their yearly finances.
Is 1mg an Indian company?
Yes, 1mg is India’s leading consumer health platform.
How do you order medication 1mg?
You can send the list of medicines, your full address, contact number, and valid prescription to order@1mg.com.
Does Tata 1mg provides franchise opportunity?
Tata 1mg provides a franchise model, enabling individuals to partner with the brand and open their own 1mg store.
According to the state government, Tamil Nadu has achieved a noteworthy milestone by registering more than 10,000 startups with the Department for Promotion of Industry and Internal Trade (DPIIT). The increase in registrations demonstrates the expansion of the startup ecosystem in the state, which has advanced significantly in the previous three years.
Quick Increase in the Number of Startups
In Tamil Nadu, there are now over 10,000 DPIIT-registered startups, up from 2,300 in March 2021. The state’s startup support agency, StartupTN, has been credited with spearheading programs that have contributed to this quick expansion.
The ecosystem has advanced thanks in large part to StartupTN’s numerous initiatives, which include funding support, mentorship opportunities, and incubation facilities. The CEO and Mission Director of StartupTN, Shivaraja Ramanathan, underlined the value of regional centres in the state. With nine regional hubs and one metro centre in Chennai, Tamil Nadu presently offers entrepreneurs the necessary infrastructure.
Emphasis on Assisting Entrepreneurs
To encourage entrepreneurship, especially among young people, the state government has taken proactive measures. StartupTN programs are designed to support young entrepreneurs and give them the tools they need to expand their companies. Ramanathan noted that, with state assistance, the organisation has concentrated on fostering an innovative culture.
About DPIIT
In India, the Department for Promotion of Industry and Internal Trade (DPIIT), a division of the Ministry of Commerce and Industry, is in charge of creating and carrying out developmental and promotional policies to support the expansion of the industrial sector while taking socioeconomic goals and national priorities into consideration. It significantly influences the framework of industrial policy, facilitates corporate transactions, and increases trade and investment in the nation.
DPIIT is responsible for developing and overseeing industrial development policies. To guarantee the successful execution of these programs, it collaborates with state governments and other ministries. By emphasising modernisation, technological advancement, and luring both domestic and foreign investment, the department aims to foster an atmosphere that supports industrial progress.
Startups recognised under DPIIT enjoy a number of advantages, including faster compliance, IPR fast-tracking, and access to several tax perks. The primary goal of the Startup India project is to assist startups in expanding their core businesses while lowering the regulatory load on them through low-cost compliance.
The DPIIT also promotes technical innovation and the defence of intellectual property rights. Government programs can be a strategic advantage for companies aiming to modernise or grow. To finance these projects, entrepreneurs can also look into business loans, since DPIIT-backed firms frequently enjoy easier compliance and easier access to funding, including loans tailored to MSME requirements.
The top car-sharing platform in India, Zoomcar Holdings, Inc., has announced the introduction of Zoomcar Cabs, a pilot program in Bengaluru that offers commercial vehicles with qualified drivers at the most competitive rates. This move into chauffeur-driven services, which builds on Zoomcar’s successful self-drive products, demonstrates the company’s dedication to expanding its business and improving customer satisfaction.
Since guests frequently contrast self-drive options with chauffeur-driven services, Zoomcar Cabs was founded in response to their expressed demand for a dependable, transparent substitute for traditional taxi services. Zoomcar has greatly increased its profitability over the past six months and is currently making calculated investments in new product lines to satisfy rising demand and improve the general customer experience.
Providing a Whole New Experience
Customers in the present cab market are frequently left with little other choice than to choose from a variety of automobile categories, such as sedan, hatchback, etc., which leaves them unsure of the precise model and condition of the vehicle they would be renting. The AI technology of Zoomcar in cataloguing, pricing, and image enhancement guarantees that each inventory item is distinctive. Consequently, guests are able to select the precise car model, view reviews and ratings from other guests, and set preferences for car quality and condition, such as year, make, mileage, and boot space.
Additionally, guests have complete control over their stops, route, destination, etc. without having to update anything on the Zoomcar app—all they need to do is input their pick-up or start location. Zoomcar Cabs gives you the option to reserve a car for as short as two hours or as long as thirty days. The introduction of Zoomcar Cabs, according to CEO Hiroshi Nishijima, demonstrates Zoomcar’s emphasis on hearing user input and providing customised solutions with an extra degree of openness and adaptability that distinguishes it from competing apps. Without using numerous apps to fulfil their travel needs, guests may easily reserve their preferred vehicles using the Zoomcar app, whether they are for self-drive or with a driver.
Zoomcar Going Through Turbulence
Ola and Uber, two of the biggest ride-hailing companies, are expected to provide Zoomcar with fierce competition in India’s taxi rental sector. This comes as Zoomcar is struggling with increasing losses and cash outflows that have caused the company to go into chaos. Zoomcar reported a negative working capital of $35.02 million and a net loss of $3.35 million and $5.88 million for the three and six months ending September 30, 2024, respectively. Zoomcar stated last month that it has “substantial doubt” about its capacity to continue in the face of growing losses.
This year, the company’s top leadership also failed. Zoomcar fired CEO and cofounder Greg Moran in June as a result of growing regulatory scrutiny of the company’s revenue forecasts. Adarsh Menon, the company’s global president, resigned by the end of this month, six months after joining the organisation.
Tata Power Delhi Distribution Limited (Tata Power-DDL) and electric vehicle (EV) startup Baaz Bikes have signed an agreement to install EV battery swapping stations throughout north and northwest Delhi. According to a news agency, the battery swapping supplier will be in charge of planning, acquiring, installing, and maintaining these stations, while Tata Power-DDL will set aside a specific area for their installation. In order to encourage the use of EVs in the nation’s capital, Baaz Bikes will first install three battery swapping stations at Tata Power-DDL’s grid substations in Rohini Grid-5, Rohini Grid-23, and Rohini Grid-28, according to the memorandum of understanding (MoU). According to Gajanan S. Kale, CEO of Tata Power-DDL, this collaboration is a step towards increasing the uptake of electric two-wheelers and promoting environmental sustainability by utilising Baaz Bikes’ cutting-edge battery swapping technology and Tata Power-DDL’s experience in energy infrastructure.
Future Vision of Baaz Bikes
Anubhav Sharma, Shubham Srivastava, Karan Singla, and Abhijeet Saxena founded Baaz Bikes in 2019 with the goal of improving gig workers’ EV mobility with affordable solutions. It offers charging batteries, reasonably priced EV bikes, and battery changing stations. In order to enhance and fortify its e-bike options for last-mile delivery, Baaz Bikes raised $8 million last month in its Series A fundraising round, which was led by Singapore-based BIG Capital. Baaz Bikes wants to take advantage of India’s growing gig workforce market. According to a study by NITI Aayog, the gig economy is predicted to grow from 77 lakh in FY21 to 2.35 crore by FY30.
India’s EV Sector
The electric vehicle (EV) market in India is expanding quickly thanks to government subsidies, growing environmental awareness, and technology breakthroughs. India hopes to dramatically boost EV adoption through programs like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, transforming its transport system in the direction of sustainability and innovation.
India’s goal is to increase the percentage of EV sales to 30% for private automobiles, 70% for commercial vehicles, 40% for buses, and 80% for two-wheelers and three-wheelers by 2030. By 2030, there will be 80 million EVs on Indian roadways, which is an ambitious goal. Additionally, India’s ‘Make in India‘ campaign aims to produce all EVs domestically.
The global market for electric vehicles was estimated to be worth US$255.54 billion in 2023. It is expected to develop at a noteworthy compound annual growth rate (CAGR) of 23.42% from 2024 to 2033, reaching over US$ 2,108.80 billion. Sales of electric vehicles in India increased by 20.88% to 1.39 million units in May 2024.
The number of electric vehicles sold in India increased by 49.25% to 1.52 million units in 2023. Even though the industry is still in its infancy, it is growing steadily. The Indian EV market is expected to grow at a 66.52% compound annual growth rate (CAGR) from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, according to Fortune Business Insights.
In order to create the University of Innovation (UoI), which aims to be the first Institute of Eminence (IoE) in the state, the Government of Andhra Pradesh (GoAP) and PhysicsWallah (PW), an EdTech business, have signed a memorandum of understanding (MoU).
According to a statement released on December 21, this initiative aligns with Chief Minister N. Chandrababu Naidu’s vision of educating the state’s youth in artificial intelligence (AI), emerging technologies, new age skills, and entrepreneurship. This will help Andhra Pradesh become a hub for education.
University will Focus on Blending Academic Excellence, Innovation, and Research
The goal of the University of Innovation is to combine research, innovation, and excellence in education. Addressing important issues in education and employability is another primary objective. A hub-and-spoke strategy would be used for the effort, with satellite centres located around Andhra Pradesh functioning as spokes and the University as the primary hub. This strategy aims to give students from various geographic locations and backgrounds access to modern, hybrid education that blends online and in-person learning opportunities. PW is working with industry partners like Amazon Web Services to offer education that is relevant to the industry in an effort to maintain the curriculum in line with the market.
The goal of this collaboration, according to Nara Lokesh, Minister for Human Resources Development in the Andhra Pradesh government, is to promote innovation and give the state’s young skills that meet industry standards and demands. It is admirable that the University of Innovation has the goal to become an Institute of Eminence by fusing cutting-edge technology and education to pave the road for progress and development. The state government is certain that this project will solidify the state’s standing as a pioneer in knowledge generation and talent development.
Alakh Pandey, the founder and CEO of PhysicsWallah (PW), expressed his opinions on the partnership by saying that PhysicsWallah values education. Its establishment of the University of Innovation in collaboration with the Andhra Pradesh government is a step in that direction. In order to establish an institution that blends academic learning with industry relevance, the brand has committed to investing up to INR 1000 crores from GSV Ventures in the US and other investors. In an effort to promote entrepreneurship and innovation, the UoI will assist students with the skills they may require in a labour market that is continuously changing.
Further Details Revealed Through a Joint Statement
According to a joint statement, GoAP and PW’s unified perspective is reflected in the creation of the University of Innovation. To guarantee individualised learning experiences for every student, the university will also try to use technology, such as AI-driven tools and adaptive learning platforms. This collaboration is an attempt to help the young people develop talents that are relevant to the industry, which will help them develop the abilities they require.
For a monetary consideration of INR 3 Cr (about $353K), Redstart Labs, a subsidiary of online classified firm Info Edge, plans to purchase an additional investment in Brainsight Technology, increasing its ownership of the Bengaluru-based healthcare startup from 4.68% to 5.27%. The company, which is led by Sanjeev Bikhchandani, stated in an exchange statement that Redstart’s board has given the company permission to purchase 385 mandatory convertible preference shares of Brainsight. Brainsight, a company founded in 2020 by Laina Emmanuel and Rimjhim Agrawal, provides AI-based functional brain mapping technologies. It now sells two products: Snowdrop and Voxelbox. Snowdrop is a patient care app, whereas Voxelbox provides physicians with access to fMRI processing engines and machine learning models for report generation.
Info Edge on Investment Spree
The filing states that, with a startup valuation of INR 3.74 Cr, Brainsight lost INR 4.76 Cr in the fiscal year 2023–24 (FY24). Lately, Info Edge has been making a lot of investments. The online giant announced last month that it would use its wholly owned subsidiary Startup Investments (Holdings) Ltd. to invest INR 4 Cr in LegitQuest, one of its portfolio companies. Before that, Info Edge declared in October that its executive director committee had approved the company’s plan to invest INR 30 Cr in Redstart Labs. One of the oldest internet-based businesses in India, Info Edge was founded in 1995 by Bikhchandani and works in a number of industries, including education (Shiksha), real estate (99acres), marriage (Jeevansathi), and recruitment (Naukri). Its portfolio includes unlisted edtech company Adda247, insurtech upstart PB Fintech, and listed heavyweights like foodtech giant Zomato.
Info Edge’s Financial Dynamics
In the September quarter of the fiscal year 2024–25 (Q2 FY25), Info Edge reported a 64.6% decrease in its net profit to INR 84.73 Cr from INR 239.74 Cr in the same quarter the previous year. However, compared to INR 625.84 Cr in the same period last year, operational revenue climbed by about 12% to INR 700.82 Cr during the reviewed quarter.
BrainSight AI Wining Top Innovator Category 2024
According to the jury of the ET Startup Awards 2024 panel, which selected BrainSight AI as the winner in the Top Innovator category, innovation in the fields of neurology and mental health has the enormous potential to change lives. Although SatSure, a space technology business, was a contender, BrainSight AI won out because of its capacity to decipher complicated MRI scans using artificial intelligence and its potential effects on people.
“You may get an idea of the moonshot ideas that entrepreneurs are pursuing by looking at the Top Innovator category.” Mithun Sacheti, the creator of Caratlane and a jury member, further said, “It gives you the impression that the world will be a better place.” The firm found it difficult to persuade hospitals to allow it to test its idea and to explain the software’s potential benefits to leading neurologists in the nation during a time when the whole health sector was preoccupied with combating the pandemic.
On December 21, Finance Minister (FM) Nirmala Sitharaman made it clear that the 5% goods and services tax (GST) rate will remain applied to new electric cars (EVs). However, the FM also stated that used EV sales between private parties will continue to be GST-exempt. FM While speaking to the media after the 55th GST Council meeting in Jaisalmer, Rajasthan, Sitharaman made the remarks. She also mentioned that outdated EVs that are purchased by businesses (or modified by sellers) and subsequently sold will be subject to an 18% tax. The difference between the purchase and sale prices will be subject to the GST rate. At the moment, new EVs are subject to a 5% GST tax, while used and aged EVs are subject to a 12% tax.
The market for old cars has expanded dramatically in recent years. In 2023–2024, the industry is expected to have sold more than 5 million units. Better financing alternatives and the emergence of certified pre-owned programs from OEMs such as Maruti Suzuki’s True Value, Mahindra & Mahindra’s First Choice, and Volkswagen certified pre-owned, as well as online startups like Spinny and Cars24, helped propel this market’s growth.
Decision Taken After a Discussion Among Council Members
The decision to impose 18% GST on used EVs was not decided arbitrarily, FM Sitharaman told the media, adding that the GST Council members had extensive deliberations before reaching a final decision. However, stating that more research was necessary, the Council postponed making a decision on the tax rates for food delivery services like Swiggy and Zomato. Foodtech giants seem to have been negatively impacted by the delay, as recent reports suggested that the Fitment Panel was considering reducing the tax levy on food delivery charges from 18% to 5%. Whether the tax should be applied to the meal item or the delivery service, and whether the rate should be 5% or 18%, were the main topics of discussion within the GST Council, according to reports. Nevertheless, no agreement was made, which resulted in the postponement.
Clarity on Payment Aggregators
The GST Council clarified payment aggregators as well, declaring that aggregator-processed transactions under INR 2,000 would not be subject to GST. Fintech businesses and payment gateways that don’t settle money, however, won’t be covered by the exemption. Notably, this comes after rumours circulated that the Council was considering charging payment aggregators 18% to facilitate low-value online transactions. According to the aforementioned plan, aggregators would have been charged 18% GST for handling debit and credit card transactions up to INR 2,000. In order to await feedback from the Insurance Regulatory and Development Authority of India (IRDAI), the Council also postponed discussions on health insurance changes.
Rishi Mundra
