Cora Health Raises Funds, Amount Undisclosed The startup will be using the funds to invest in technology, team hiring, and expansion of a network of experts and categories on the platform
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Bengaluru-based health and wellness marketplace startup Cora Health announced on Monday to have raised an undisclosed amount of funding. The funding round was led by marquee angels in their personal capacity by Apurva Parekh (Pidilite Industries Limited), KRS Jamwal (Tata Industries), both in their personal capacity along with Dhanpal Jhaveri (Everstone Group), Amit Chaudhary (Lenskart), Kushagra Pant (Nomura), Neha Saraf (Visa), Anusuya Roy (Flipkart), Ajay Mian (All e Technologies), and Headstart Investor Circle.
CORA Health, founded by former Flipkart colleagues Snigdha Kumar and Shrijit Venkatesh was launched in May 2020 and is a 100X.VC Portfolio company. Bengaluru-based health and wellness startup offer an e-commerce platform that helps users get access to healthy food alternatives based on their medical condition.
"We are very excited to have the biggest industry names back us on our vision and this has fuelled us to be even more relentless in our obsession of improving everyday health and wellness. We see ourselves as being synonymous with health and to be able to transform the pantry of 20 million households with healthier options by 2023. We will be using the funds to invest in technology, team hiring, and expansion of the network of experts and categories on the platform," Snigdha Kumar, co-founder, Cora Health.
Much before the outbreak of the COVID-19, health consciousness was rising but the virus has been an awakening among people to make the right health choices. Hence, Cora is helping people find the right guidance with their trusted community of health experts and providing a platform offering nutritional products based on health conditions or health goals. The startup is solving the major problem of finding the right food choices.
"Shrijit and Snigdha approached me with their vision to transform the lives of millions struggling with health issues and unable to get the attention they need. Their take on a verticalized solution for the health and nutrition space is something I deeply believe in, having seen the power of vertical play up close to myself. I believe this to be the next big thing in consumer tech, and with their background and obsession for their customers, they are poised to take this space and win," shared Amit Chaudhary, co-founder, Lenskart.
"Health is a priority for everyone, and we are delighted to be the first institutional investor in Cora. With its unique offering and positioning, we firmly believe that CORA will be a game-changer in the burgeoning health and wellness space," added Ninad Karpe, partner, 100X.VC.
The company was launched with an initial investment of INR 20 Lakh. Backed by 100X.VC, Cora Health raised their first cheque from 100X.VC as part of the fund's Class 03 portfolio. Working with more than 10 courier partners to serve over 27,000 pin codes across India, the company is clocking 200 percent month-on-month growth and is targeting revenue INR 100 crore ARR by the end of 2022.