Bengaluru-based full-stack health and wellness startup Mojocare has raised $20.6 million (approx. Rs 164 crore) in a Series A funding round led by B Capital, with participation from existing investors Chiratae Ventures, Sequoia India Surge, and Better Capital.
Last month, Eduardo Luiz Saverin cofounded B Capital announced the launch of its new fund Ascent Fund II worth $250 million to invest in early-stage startups. The global venture investment firm has backed some of India’s leading startups such as Byju’s, Bounce, Fi, Dailyhunt, Meesho, and Khatabook, among others.
The round also witnessed the participation from prominent angel investors, including Vineet Jain (MD, Times Group), Kunal Shah (CRED), Ankit Nagori (Founder of Curefoods), Adrian Auon (Forward), Sajid Rahman (Telenor Health), Ravi Bhushan (Brightchamps), and Vivekananda HR (Bounce).
Founded in May 2021 by Ashwin Swaminathan and Rajat Gupta, The startup provides personalized wellness products and services such as consultations and treatments for daily nutrition, fitness, hair, skin, sleep, and sexual health.
With this round of funding, Mojocare will focus on expanding its product, content, and care delivery teams, strengthening and diversifying its product portfolio, and scaling across omnichannel GTMs with a distribution-first approach.
“In India, 400 million users are battling issues related to dermatological, mental health, fertility, and women’s and sexual wellness. Consumers have a serious lack of trust in them, and access is severely limited due to a nearly nonexistent care layer. The prevalence of unskilled and dishonest health professionals is alarming, and the likelihood of counterfeit products sold offline is considerable,” said Rajat Gupta, Co-Founder of Mojocare.
Prior to the current round, Mojocare had raised $3.08 million in a seed round from Chiratae Ventures and Sequoia India’s surge.
Source @Indianstartupnews
