Tata Digital to Acquire Majority Stake in Online Pharmacy 1mg
Tata Digital, a wholly-owned subsidiary of Tata Sons, is acquiring a majority stake in online pharmacy startup 1mg. The firms didn’t share the financial details of the deal, but according to insight firm Tracxn, 1mg had raised $156 million prior to Thursday’s announcement and was last valued at $242 million. 1mg counts Bill & Melinda Gates Foundation and Sequoia Capital India among its investors.
This is the third major investment by the Tata Group in recent weeks after the company announced investments in fitness-focused Curefit Healthcare and online grocery BigBasket. Tata Digital said that the move is in line with Tata Group’s vision of creating a super application that consumers need across different segments.
The Tata-1mg deal comes when Reliance Industries has entered the online pharmacy space by acquiring Netmeds while PharmEasy merged with smaller rival Medlife ahead of an IPO.
Suresh Prabhu joins Persistent as Chief Delivery Officer
Suresh Prabhu has joined Persistent Systems as Chief Delivery Officer for Industry verticals. In this role, he will be responsible for the delivery organization across Software and Hi-Tech, Banking Financial Services and Insurance, Healthcare and Life Sciences, and Emerging verticals.
Prabhu joins Persistent with over 30 years of experience in digital transformational projects: new product engineering, product modernization and enterprise solutions delivery. He joins Persistent from Epicor Software, where he was responsible for the development and delivery of on-premise and SaaS solutions across multiple industries including manufacturing, distribution and retail. In previous roles, Suresh worked in retail banking, online banking, bill payments and trade finance domains and across various high growth product and services firms. Suresh will be a member of Persistent’s executive team and will be based out of Bengaluru, India.
Daksh, IIT Delhi Collaborate for Interdisciplinary Research and Solutions for Judicial System
Daksh Centre of Excellence (CoE) for Law and Technology at Indian Institute of Technology (IIT) Delhi has kick-started projects to leverage the power of interdisciplinary research, technology and community of practice to accelerate reforms in the Indian judicial system.
The Centre of Excellence has started three projects including: Evaluation of User Interface (UI)/ User Experience (UX) for select Indian High Court websites, Case Flow Management in India via Simulation Modelling, and Cheque Bouncing Case Analysis. These projects attempt to use analytical frameworks from different disciplines to build tools for a better understanding of the Indian judiciary.
The CoE is conducting a detailed study on the User Interface (UI) and User Experience (UX) of the websites of six High Courts of India – Delhi, Bombay, Calcutta, Madras, Madhya Pradesh, and Karnataka.
