Sunday, September 25, 2022
HomeInsightFunding Alert Parenting platform Mylo raises $17 mn in Series B round

[Funding alert] Parenting platform Mylo raises $17 mn in Series B round

Parenting platform Mylo
Parenting platform Mylo

Gurugram based Mylo, a full stack platform for both expecting and new parents, has raised $17 million in its Series B funding round from W Health Ventures, a Boston-based digital health investor, ITC, and Endiya Partners.

Other investors including Riverwalk Holdings, Alteria Capitaland Innoven Capital also participated in this round.

Following this round, the total amount Mylo has raised so far has touched $24 million.

The Gurugram-based Mylo was founded in 2018 by Vinit Garg, It is an online health tool and community platform for new and expectant mothers.

Through its platform, mothers can track their baby’s development, access expert-verified content for over 500 topics and ask questions to other moms in a similar life stage.

“The investment will help us build the Mylo brand, scale our community, products verticals and launch our digital health solutions for mothers. We are thrilled to onboard investors who bring significant operational and healthcare expertise in our expansion areas that will help us build India’s #1 full-stack one-stop solution for mothers”, said, Vinit Garg, Founder and CEO of Mylo.

“It takes a village to raise a child and Mylo is providing this village to every mother and baby in the country through its platform. Mylo leverages technology to provide a supportive community-led platform that helps solve critical problems that women face in their pregnancy and motherhood journeys. We believe the tremendous adoption of internet and eCommerce among Indian women will be a catalyst for Mylo’s growth”, said, Dr. Pankaj Jethwani, Executive Vice President at W Health Ventures.

After making Mylo a one-stop shop for moms-to-be, its next focus area is healthcare. It has already made progress by providing physician consultations with gynecologists and pediatricians, health packages for weight loss and PCOS, and hospital recommendations for childbirth and IVF procedures.

“In a fast-evolving healthcare and wellness consumption landscape in India, augmented by strong tailwinds including improved digital payments infrastructure, better logistics, and deepening consumer base (from Tier II and Tier III) embracing e-commerce, Mother and Baby Healthcare remains the top draw”, said, Abhishek Srivastava of Endiya Partners.

Last year the startup launched its own D2C brands for mothers and babies based on personalized care, premium Ayurveda and community feedback and its own R&D facility. The startup has created over 100 unique products, sold 7 lakh units and sent over 16000 pin codes.

About Mylo

Mylo is the one-stop full-stack platform that acts as a close companion to young parents to raise happiness. The platform has personalised experience, a helpful community of mothers & experts and curated products – everything a parent needs for their parenting journey. At Mylo, their vision is to empower young parents to raise happy and healthy families.

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