31 C
Mumbai
Friday, June 21, 2024

Healthtech startup Mojocare gets $20.6M for its health & wellness platform

Healthtech startup Mojocare, which offers personalised car delivery system, has secured $20.6 million.  

The funds will be used by the Bengaluru-based startup to scale its omnichannel go-to-market strategy and hire more people.

Mojocare, a healthtech startup, has raised $20.6 million (INR 160 million) in a Series A funding round led by B Capital and existing investors Chiratae Ventures, Sequoia India’s Surge, and Better Capital.

Angel investors including Times Group MD Vineet Jain, CRED CEO Kunal Shah, Curefoods founder Ankit Nagori, Forward CEO Adrian Auon, Telenor Health CEO and founder Sajid Rahman, Brightchamps CEO Ravi Bhushan, and Bounce founder Vivekananda HR participated in the round.

The funds will be used by the Bengaluru-based startup to diversify its product portfolio and scale its omnichannel go-to-market strategy, with a particular emphasis on distribution. 

Mojocare will also use the funds to hire more people as it expands its content and care delivery teams.

Mojocare, which was founded in 2020 by Ashwin Swaminathan and Rajat Gupta, provides a personalised care delivery system in areas such as sexual wellness, women’s wellness, mental wellness, and hair loss.

On its platform, it also provides medication and consultations with nutritionists, therapists, health coaches, and doctors.

According to Mojocare cofounder Swaminathan, “despite the space appearing to be crowded, most of the players offer a transactional experience…

To unlock this latent market and drive top of the funnel through credible clinical content, access to experts, and a digital engagement-led user journey, we are taking a very distribution-first approach.” 

Partner at B Capital Karan 0Mohla echoed the opinion, saying, “They are drawing the top talent in the nation, and their patient experience and care layer is inspiring.”

We are excited to support what is developing as a neo-healthcare delivery system in emerging economies for situations where the care value chain is fundamentally broken by integrating technology and data across a complete stack offering.”

In October 2020, the firm secured $3.08 million in an early fundraising round. Chiratae Ventures, Sequoia India, Lenskart’s Peyush Bansal, Snapdeal’s Kunal Bahl and Rohit Bansal, and others have invested. Since May 2021, the firm claims to have expanded 60X, with a 12X increase in the number of service providers on its network.

Mojocare has also raised its paid subscriber base by 45X in 12 months since May 2021, and its ‘care’ services have been offered to consumers in 50% of India’s pincodes.

The country, according to the firm, is home to 400 million people who are battlMojocare will also use the financing to employ more as it wants to expand teams across content and care delivery.

Mojocare, which was founded in 2020 by Ashwin Swaminathan and Rajat Gupta, provides a tailored care delivery system in areas such as sexual health, women’s wellbeing, mental wellness, and hair loss. On its platform, it also provides medication and consultations with nutritionists, therapists, health coaches, and doctors.

Mojocare cofounder Swaminathan, said, “Despite the fact that the space appears to be crowded, the majority of the players provide a transactional experience… We’re taking a very distribution-first approach to unlocking this latent market and driving top of the funnel through credible clinical content, access to experts, and a digital engagement-led user journey.” 

Partner at B Capital Karan Mohla echoed the sentiment, saying, “They are attracting the best talent in the country, and their patient experience and care layer is inspiring.” We are excited to support what is developing as a neo-healthcare delivery system in emerging economies for situations where the care value chain is fundamentally broken by integrating technology and data across a complete stack offering.”

In October 2020, the firm secured $3.08 million in an early fundraising round. Chiratae Ventures, Sequoia India, Lenskart’s Peyush Bansal, Snapdeal’s Kunal Bahl and Rohit Bansal, and others have invested.

Since May 2021, the firm claims to have expanded 60X, with a 12X increase in the number of service providers on its network. 

Mojocare has also raised its paid subscriber base by 45X in 12 months since May 2021, and its ‘care’ services have been offered to consumers in 50% of India’s pincodes. According to the startup, the country is home to 400 million people who are dealing with dermatological, mental health, and sexual wellness difficulties. Mojocare competes in many sectors with companies such as Mosaic Wellness and BoldCare.

admin

Related Articles

Latest Articles