Mylo, a full-stack platform for expecting and new mothers, has raised $17 million in Series B funding round led by W Health Ventures, a US-based digital health investor, ITC and Endiya Partners.
The round also saw participation from Riverwalk Holdings, Alteria Capital, and Innoven Capital. With this round, the total funds raised so far by Mylo touched $24 million.
Founded in 2018 by Vinit Garg, Mylo started as an online health tool and community platform for new and expecting mothers. Mothers on Mylo can track their baby’s development, get expert vetted content for over 500 topics and ask questions to other moms in a similar life stage. Last year, Mylo launched its own D2C Brands for mothers and babies in personal care, premium Ayurveda and daily essentials based on community feedback and its own research and development facility.
“The investment will help us build the Mylo brand, scale our community, products verticals and launch our digital health solutions for mothers. We are thrilled to onboard investors who bring significant operational and healthcare expertise in our expansion areas that will help us build India's #1 full-stack one-stop solution for mothers," said Garg, speaking about the investment.
“It takes a village to raise a child and Mylo is providing this village to every mother and baby in the country through its platform. Mylo leverages technology to provide a supportive community-led platform that helps solve critical problems that women face in their pregnancy and motherhood journeys. We believe the tremendous adoption of internet and ecommerce among Indian women will be a catalyst for Mylo’s growth. We look forward to working with them as they scale to impact millions of women and children in India,” added Pankaj Jethwani, executive vice president at W Health Ventures.
Mylo claims to have created over 100 unique products, sold more than 7 lakh units and shipped to over 16000 pin codes. Following its vision of creating a one-stop-shop for mothers, Mylo’s next focus area is healthcare services. It has already made headway by providing doctor consultations with gynaecologists and paediatricians, health packages for weight loss and PCOS, and hospital recommendations for delivery/IVF procedures.
“In a fast-evolving healthcare and wellness consumption landscape in India, augmented by strong tailwinds including improved digital payments infrastructure, better logistics, and deepening consumer base (from Tier II and Tier III) embracing e-commerce, mother and baby healthcare remains the top draw. We strongly believe that Mylo’s team is well-positioned to be a leading player in developing next generation virtual care for women and childcare developing personalised products and solutions across fertility, pregnancy, parenting, and pediatrics through their unique ability to harness technology and data-driven insights via their active and large communities,” said Abhishek Srivastava of Endiya Partners.