Mojocare, a digital health startup, raised $20.6 million (Rs 160 crore) in a Series A round on Monday. B Capital led the round, and Chiratae Ventures, Sequoia India’s Surge, and Better Capital were among the other investors.
Some of India’s top angel investors and industry leaders like Vineet Jain (MD, Times Group), Kunal Shah (Founder, CRED), Ankit Nagori (Founder of Curefoods), Adrian Auon (Founder and CEO, Forward), Sajid Rahman (Founder and CEO, Telenor Health), Ravi Bhushan (Founder and CEO, Brightchamps), and Vivekananda HR also took part in the round (CEO and Founder, Bounce).
The company, which is based in Bengaluru, will use the money to grow its product, content, and care delivery teams, improve and expand its product line, and scale across omnichannel GTMs with a focus on distribution.
Mojocare was started by Ashwin Swaminathan and Rajat Gupta in May 2021. They offer full-stack, personalised care for sexual health, women’s health, mental health, and hair loss. The personalised care delivery system helps users deal with chronic illnesses and illnesses caused by their lifestyles.
Rajat Gupta, co-founder of Mojocare, said this about the platform:
“In India, 400 million people have problems with their skin, mental health, fertility, women’s health, and sexual health. Consumers don’t trust them at all, and access is very hard to get because there is almost no care layer. There are a lot of unqualified and dishonest health professionals, and there is a good chance that fake products will be sold offline.”
“Even though it seems like there are a lot of players in the space, most of them only offer a transactional experience. They sell generic products on third-party marketplaces where they have no control over the user’s wellness journey. Ashwin Swaminathan, co-founder of Mojocare, said, “We are taking a very distribution-first approach to unlock this untapped market and drive top of the funnel through credible clinical content, access to experts, and a digital engagement-led user journey.”
Karan Mohla, a partner at B Capital, said about the investment, “We think they are solving one of the biggest problems in consumer health and wellness, and they could change the way people think about specialty wellness in a big way. They are getting the best people in the country to work for them, and their patient care and experience layer is impressive. We are excited to support what is becoming a new healthcare delivery system in emerging markets for conditions where the care value chain is fundamentally broken by using technology and data across a full stack offering.”
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