IPG Mediabrands’ Initiative India wins media mandate of 1mg
The account will be handled out of the agency’s Delhi office
Initiative India, the full service media agency of IPG Mediabrands, has bagged the media mandate of e-pharmacy brand 1mg, highly placed sources have told exchange4media. The mandate was awarded after a multi-agency pitch.
The account will be handled out of the agency’s Delhi office. The e-pharmacy brand will now be foraying into advertising for the first time. According to sources, the account size is pegged to be around Rs 70-75 crore.
exchange4media reached out to Initiative India and 1mg for their comments but didn’t receive a response until the time of filing this article.
1mg recently raised Rs 314 crore ($45.4 million) in a funding round raised between December 2018 and March 2019. This has been the second round of funding raised by the e-pharmacy start-up in the last one year. According to its last year’s filing, the company secured close to Rs 101 crore ($14.6 million) from investors, including SCI Growth Investments and MAF Mauritius.
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. Its founders include Prashant Tandon, Gaurav Agarwal and Vikas Chauhan.
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