Femtech Startup Gynoveda Raises ₹82.5 Crore In Series A Funding
The Ayurvedic femtech startup Gynoveda has raised $10 million. Gynoveda sells Ayurvedic medicines to treat female disorders, irregular periods & infertility.
Vishal Gupta’s health was hampered by the lifestyle disorders psoriasis and asthma in 2015. Gupta tried a number of different medications, but nothing helped.
He then resorted to the traditional Indian medicinal system known as Ayurveda, and claims that the outcomes were “miraculous.”
Gupta was formerly the COO of the digital insurance start-up Acko, which is financed by Binny Bansal.
“I observed comparable outcomes for a number of my family members, which strengthened my faith in Ayurveda”, said Gupta.
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Gupta discovered the benefits of Ayurveda in treating menstrual health issues while researching the subject.
Gynoveda, a women’s healthcare company that sells Ayurvedic medications to treat female disorders like Polycystic Ovary Syndrome (PCOS), a condition whereby female ovaries produce an unnaturally large amount of androgens or male hormones, irregular periods, and infertility.
Gynoveda was founded in 2019 by Gupta and his partner Rachana Gupta. This occurs at a time when discussions on menstrual health are still frowned upon in some parts of the nation.
The husband-and-wife team, along with gynecologist Dr. Aarati Patil, raised $10 million in Series A funding on March 15 with the help of India Alternatives in order to expand their research and development efforts, introduce new ayurvedic products, and improve their brand awareness.
Gynoveda can hire personnel with the aid of the financing to accelerate growth. According to the company, ayurveda, technology, content, and community for women’s healthcare are currently handled by a team of more than 50 people.
The company stated that it also intended to create offline locations with the new capital but did not provide a date. The only D2C (Direct-to-Customer) channels that Gynoveda currently employs are its website and online marketplaces.
They receive about 80% of their revenue from their own website, with the remaining 20% coming from a few major marketplaces including Amazon, Flipkart, and Nykaa. As a result, they are well-known in the online market.
About 400,000 orders have already been delivered by the business over 20,000 pin codes in more than 50 cities.
The founder of Gynoveda now thinks it’s time for the business to work with physicians and pharmacies as it explores business-to-business channels to spur growth.
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