Mojocare, a health-tech startup has raised $20.6 million (Rs 160 crore) in its Series A funding round from B Capital and existing investors Chiratae Ventures, Sequoia India’s Surge and Better Capital.
Other angel investors including Kunal Shah (CEO, CRED), Vineet Jain (MD, Times Group), Ankit Nagori(Founder, Curefoods ), Adrian Auon (CEO, Forward), Sajid Rahman (Founder & CEO, Telenor), Ravi Bhushan (CEO, Brightchamps), and Bounce founders People Vivekananda HR, also participated in this round.
The startup plans to use the funds to diversify its product portfolio and expand its omnichannel go-to-market strategy with a special focus on distribution. It will also use the new capital to hire more people as it seeks to expand the team in content and care delivery.
The Bengaluru-based Mojocare was founded in 2020 by Ashwin Swaminathan and Rajat Gupta, It provides a personalized care delivery system in topics such as sexual health, women’s health, mental health and hair loss. The startup also provides medicine and consultation with nutritionists, therapists, health trainers and doctors on its platform.
“Despite the seemingly crowded space, most players offer a transactional experience…We are taking a very distribution-first approach to unlocking this addressable market and driving the growth of the funnel through solid clinical content, expert access and Crypto engagement. Top – leading the user journey,” said Ashwin Swaminathan, co-founder of Mojocare.
Mojocare claims to have grown 60x since May 2021, while the number of service providers on its platform has grown 12x.
“They are attracting the best talent in the country with an inspiring layer of patient experience and care. We are excited to support emerging new healthcare in emerging markets Care delivery systems to address the fundamental disruption of the care value chain by leveraging technology and data in full-stack offerings”, said Karan Mohla, partner at B Capital.
In October 2020, Mojocare had raised $3.08 million in its seed round in October 2020 from Chiratae Ventures, Sequoia India, Lenskart’s Peyush Bansal, Snapdeal’s Kunal Bahl and Rohit Bansal.
Mojocare is a neo clinic focused on specialty wellness – sexual wellness, PCOS and fertility, mental wellness, skin, hair and weight – conditions that plague half a billion Indians. Humanity has lost its mojo in modern times.
At Mojocare, the best talent and minds are working on solving the largest and most interesting problems in consumer health and wellness in a distribution-first approach to unlock a massive latent and broken market. They are building and growing a young, vibrant, entrepreneurial and hungry team passionate to change the world.