Mosaic Wellness Raises $24 Million In Series A Funding The round was led by Sequoia Capital India with participation from Elevation Capital and Matrix Partners India
By Shrabona Ghosh •
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Mosaic Wellness, a health and wellness startup running digital health clinic platforms Manmatters and Bodywise, on Wednesday announced it has raised $24 million in Series A funding. This round was led by Sequoia Capital India with participation from existing investors Elevation Capital and Matrix Partners India.
Founded by Revant Bhate and Dhyanesh Shah in early 2020, Mosaic was set up with the vision of delivering consumer-centric, vertically integrated and affordable digital healthcare platforms, which led to the birth of Manmatters in May 2020 and Bodywise in May 2021.
The business now has annualized revenues of $14 million and serves more than 100,000 customers a month.
Commenting on the fundraise, co-founder and CEO, Revant Bhate, said, "We started with a vision to make wellness accessible and affordable for Indians and have been able to build a very purpose-driven team. As we have validated our initial thesis we are thankful to all the stakeholders who have helped us get to this stage and continue to aspire to help more of us lead a healthier lifestyle in the coming decade."
"Over the last 18 months, the company has executed brilliantly, growing almost 10 times 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," said Abhishek Mohan, principal at Sequoia India.
Manmatters has now served more than 300,000 men across key therapeutic areas like dermatology, sexual health, hygiene, and nutrition. They have also recently expanded into providing diagnostic services for general health needs.
Bodywise has already served more than 100,000 women across key therapeutic areas like hair loss, PCOS, skin health, intimate health and nutrition.
