Indian online medical store operator 1mg Technologies Pvt. Ltd is in discussions to secure up to $60 million in the funding round.
1mg Technologies is in talks with private investors and existing investor to raise the upcoming round including a secondary sale of shares. Sequoia Capital India is expected to participate in the round.
Depending on the final conversations, the round will take another two to three months to close since there are some secondary stake sales by existing investors.
In April this year, 1mg Technologies had raised nearly $10 million in a bridge round at a pre-money valuation of $75 million.