Healthcare start-up Gynoveda raises $10M in Series A funding led by India Alternatives Fund
Gynoveda, an Ayurveda-backed women’s healthcare startup, has raised $10million in Series A funding led by India Alternatives Fund.
The round also saw participation from Wipro Enterprises, RPG Ventures, Dharampal Satyapal Ltd, and Alteria Capital. Existing investor Fireside Ventures also participated in this round.
With the help of this funding, the company aims to raise awareness about the importance of menstrual health on a grassroot level, making Ayurveda the first choice for women’s healthcare. Hence, the funds will be deployed to double down on strengthening R&D, formulating new ayurvedic offerings, onboarding talent, expanding distribution channels and increasing brand awareness.
The brand has plans to step into the offline domain in the near future to reach women across the breadth and depth of India.
Shivani Bhasin Sachdeva, Founder, Managing Director, and CEO of the India Alternatives Private Equity Fund, said, “This investment fits perfectly with our investment themes of Women & Health. Today, over 40% of online shoppers are women, up from 10% a few years ago. Women’s health globally is an underserved market.”