The India Alternative Fund led $10 million Series A round of funding for the femtech platform Gynoveda. Together with current investor Fireside Ventures, RPG Ventures, Wipro Enterprises, and Alteria Capital participated in the round.

During the next three to five years, the platform plans to use the cash to increase its physical retail presence, double its existing staff of 50 employees, and reach around a million women. Gynoveda currently states that it has treated three lakh women in India who live in 20,000 different postal codes. "We are hoping to see a retention of close to 60% from the million women we plan to serve to," Vishal Gupta, Founder and CEO, Gynoveda.

Founded in 2020, Gynoveda provides consultations and medication to treat menstrual health problems. The platform's bot offers a three-minute period test that, if answered correctly, provides information about the possible disorder and methodologies to treat it.

Gynoveda’s target audience is women between the ages of 15 and 45 years. In 2021, its major chunk of demand came from metro cities including Mumbai, Delhi, Bengaluru, and Hyderabad. The platform is now targeting an offline presence across Tier I and II cities across Maharashtra, Bihar and Uttar Pradesh, among other states.

"Women now make up over 40% of online shoppers, compared to 10% a few years ago. The market for women's health is neglected globally "India Alternatives Private Equity Fund's founder and CEO, Shivani Bhasin Sachdeva, made this statement in a press release distributed by the business. The firm has so far received an undisclosed amount of seed funding from Fireside Ventures. The platform presently competes with Sequoia-funded Veera Health, which links PCOS sufferers with the appropriate medical professionals.