Mumbai-based femtech startup Gynoveda has raised $10 million in a Series A funding round led by India Alternatives Fund, with participation from Wipro Enterprises, RPG Ventures, Dharampal Satyapal Ltd, Alteria Capital, and existing investor Fireside Ventures.
The startup plans to use the raised capital to scale its presence across retail stores, double its team of 50 people, and reach about a million women.
Founded in 2020 by Husband-wife duo Rachana and Vishal Gupta, Gynoveda, through its online platform, provides consultations and medication to treat menstrual health problems. Their bot offers a three-minute period test that provides information about the possible disorder and methodologies to treat the disease.
The platform, which targets women aged between 15 and 45 years, sells FDA-certified products to cure infertility, genital problems, irregular menstrual cycles, poor nutrition and wellness in women. Apart from its website, it also sells its products in e-commerce platforms like Amazon, Flipkart, and Nykaa.
“Gynoveda has so far improved the health of 3 lakh women residing in 20,000 PIN codes of India. This led to the company tripling its revenue year-on-year between FY20 and FY23 to reach ₹100 crores annual revenue run rate within 3 years of its inception. Gynoveda is on a mission to change the lives of 1 million women, which is still a fraction of the billion women worldwide that need this unique ayurvedic solution,” said Vishal Gupta.
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