Is the Tata group any closer to a super app?
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Editor's note: The Tata group, after missing out on India’s startup action for a good decade, is finally making up for lost time. (Just to be clear, my statement should not be confused with Ratan Tata, chairman emeritus of the group, who personally has had a fairly busy angel investment run.) This past week, Tata Digital announced that it is acquiring a majority stake in online healthcare marketplace 1mg. From Tata Digital: The investment in 1MG is in line with the Tata group’s vision of creating a digital ecosystem that addresses consumer needs across categories in a unified manner. E-pharmacy, e-diagnostics, and teleconsultation are critical segments in this ecosystem and have been among the fastest-growing segments in this space, as this sector enabled access to healthcare through the pandemic. The overall market is around $1bn and expected to grow at ~50% CAGR driven by increased health awareness among consumers and greater convenience. This category will form a key element of the Tata Digital ecosystem offering. 1mg is Tata Digital’s second startup investment in the last week. The company also invested $75 million …
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