Ayurveda Startup Gynoveda raises $10 mn in Series A funding
Gynoveda, a women’s healthcare startup supported by Ayurveda, has raised $10M in Series A funding, with India Alternatives Fund as the lead investor. Reputable family offices and organisations like Wipro Enterprises, RPG Ventures, Dharampal Satyapal Ltd, and Alteria Capital also participated in the round.
Additionally investing in this round was previous investor Fireside Ventures, demonstrating its ongoing support for Gynoveda’s mission, as per reported by BW Disrupt.
Read also – DPIIT Introduces ‘National Incubator Capacity Building Program’ for India’s Emerging Entrepreneurs
With this funding, the company will raise awareness of menstrual health issues and promote Ayurveda as the leading women’s healthcare system. Thus, the funds will advance R&D, develop new ayurvedic products, hire staff, expand distribution, and build brand recognition. Gynoveda empowers women through its website and online marketplaces and plans to reach them offline in other parts of India.
Vishal Gupta, Founder & CEO, Gynoveda, said that “Gynoveda has so far improved the health of 3 lakh women residing in 20,000 pincodes of India. This led to the company tripling its revenue year-on-year between FY20 and FY23 to reach ₹100 crores annual revenue run rate within 3 years of its inception. Gynoveda is on a mission to change the lives of 1 million women, which is still a fraction of the billion women worldwide that need this unique ayurvedic solution.”
Read also – [Funding alert] Tech Recruitment Startup Coffeee.io Secures pre-seed round from Riverwalk Holdings
Shivani Bhasin Sachdeva, Founder, Managing Director, and CEO of the India Alternatives Private Equity Fund, said, “This investment fits perfectly with our investment themes of Women & Health. Today, over 40% of online shoppers are women, up from 10% a few years ago. Women’s health globally is an underserved market. We are proud to back a company that uses an age-old science like Ayurveda in a new format to provide solutions for this large addressable market”.
Read also – [Funding alert] Jumbotail Secures $9.1 mn debt funding from Alteria Capital & Innoven Capital
Vinay Singh, Partner, Fireside Ventures, said, “Gynoveda’s disruptive vision combined with research-backed solutions is enabling it to bring tangible change in the lives of women. We are very impressed with how Vishal, Rachana & Dr. Aarati are building a robust healthcare stack for menstrual & reproductive health. We are glad to be a partner in their journey to completely transform women’s healthcare ecosystem, ground up”
Gynoveda.com is the world’s 1st Ayurveda FemTech, started in 2018 with a vision to combine Content, Technology, Ayurveda medicines ready-to-buy online for women to experience healthy periods, lifelong! Gynoveda, award winner of Times Brand Icon 2021 as India’s Leading Ayurvedic Women Healthcare Brand, is headquartered in Mumbai. Husband-wife duo Rachana & Vishal Gupta partnered with a dream to make Ayurveda the world’s first choice for menstrual healthcare & wellness.
Read also – [Funding alert] Healthtech Startup LifeSigns Raises pre-Series A Funding Round