Health & Wellness Startup Mosaic Wellness receives $24 million from Sequoia Capital India & Others
Mosaic Wellness, a health and wellness startup that operates the digital health clinic platforms Manmatters and Bodywise, has raised $24 million (Rs 178 crore) in a Series A funding round led by Sequoia Capital India, with existing investors Elevation Capital and Matrix Partners India also participating.
According to cofounder Revant Bhate, the money will be used to make acquisitions, expand technology capabilities, and hire more people.
Before its launch, the company raised $10 million in a seed round from Elevation Capital, Sequoia Capital India, and Matrix Partners India, as well as angel investors Jitendra Gupta, Kunal Shah, and Jaydeep Barman.
Mosaic Wellness is a platform of consumer-first digitally native full-stack digital-health clinics founded by Bhate and Dhyanesh Shah in 2020.
Manmatters.com is for men's health and wellness, and bebodywise.com is for women's health and wellness.
According to Bhate, the platform conducts over 30,000 telehealth consultations per month across several therapeutic areas and serves over 100,000 consumers per month with its products and services.
“We have an annualised revenue of $14 million and will look to reach $50 million in revenues over the next 18 months,” says Bhate.
The company is growing at a rate of 20% per month and is relying on the content-to-commerce approach to help it scale its brands more quickly.
“Over the last 18 months, the company has executed brilliantly, growing almost 10x in terms of users and revenue. It's a testament to the clear white space for digital-first health clinics in India and the strong value proposition the company has built for both men and women across multiple treatment areas. We are excited to double down on the partnership and for the journey ahead,” says Abhishek Mohan, principal at Sequoia Capital India.
More than 300,000 men have been served by Manmatters in areas such as dermatology, sexual health, hygiene, and nutrition. This men's digital clinic offers primary care services and products for erectile dysfunction, premature ejaculation, hair loss, digestive health, nutritional deficiencies, and other issues. It has recently expanded its diagnostic services to include general health needs.
So far, Bodywise has helped over 100,000 women with issues such as hair loss, PCOS, skin health, personal health, and nutrition. This health and wellness website features a community, telehealth consultations, and a wide range of skincare, hair care, weight management, nutrition, PCOS, and intimate health goods.
“I have been amazed by the analytical rigor layered on top of customer backward thinking of the founders from Day Zero. A very strong foundation is in place for an amazing team executing their full-stack health and wellness vision,” said Avnish Bajaj, managing director, Matrix India.
According to cofounder Revant Bhate, the money will be used to make acquisitions, expand technology capabilities, and hire more people.
Before its launch, the company raised $10 million in a seed round from Elevation Capital, Sequoia Capital India, and Matrix Partners India, as well as angel investors Jitendra Gupta, Kunal Shah, and Jaydeep Barman.
Mosaic Wellness is a platform of consumer-first digitally native full-stack digital-health clinics founded by Bhate and Dhyanesh Shah in 2020.
Manmatters.com is for men's health and wellness, and bebodywise.com is for women's health and wellness.
According to Bhate, the platform conducts over 30,000 telehealth consultations per month across several therapeutic areas and serves over 100,000 consumers per month with its products and services.
“We have an annualised revenue of $14 million and will look to reach $50 million in revenues over the next 18 months,” says Bhate.
The company is growing at a rate of 20% per month and is relying on the content-to-commerce approach to help it scale its brands more quickly.
“Over the last 18 months, the company has executed brilliantly, growing almost 10x in terms of users and revenue. It's a testament to the clear white space for digital-first health clinics in India and the strong value proposition the company has built for both men and women across multiple treatment areas. We are excited to double down on the partnership and for the journey ahead,” says Abhishek Mohan, principal at Sequoia Capital India.
More than 300,000 men have been served by Manmatters in areas such as dermatology, sexual health, hygiene, and nutrition. This men's digital clinic offers primary care services and products for erectile dysfunction, premature ejaculation, hair loss, digestive health, nutritional deficiencies, and other issues. It has recently expanded its diagnostic services to include general health needs.
So far, Bodywise has helped over 100,000 women with issues such as hair loss, PCOS, skin health, personal health, and nutrition. This health and wellness website features a community, telehealth consultations, and a wide range of skincare, hair care, weight management, nutrition, PCOS, and intimate health goods.
“I have been amazed by the analytical rigor layered on top of customer backward thinking of the founders from Day Zero. A very strong foundation is in place for an amazing team executing their full-stack health and wellness vision,” said Avnish Bajaj, managing director, Matrix India.
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