Cora Health Raises INR 4.6 Crore In Seed Funding
The startup will use the funds to deepen its tech and engineering capabilities
Cora Health, a Bengaluru-based nutrition and health foods marketplace, has raised INR 4.6 crore in seed funding from Indian Angel Network (IAN). The round was led by angel investors Vishnuraj Kunjur, KRS Jamwal and Ajay Upadhyaya.
Other investors who joined the round include Tholons Capital, Family Office of Apurva Parekh (executive director, Pidilite Industries Ltd) and Kushagra Pant (MD, Nomura). Earlier this year, Cora Health had raised INR 1.95 crore in a pre-seed round.
The startup plans to utilize the fresh funds to improve its tech and engineering capabilities that will help in expanding the customer base.
Speaking on the development, Snigdha Kumar, co-founder, Cora Health, said, "Health needs are individualistic, and therefore, at Cora, we are building a guided marketplace with the goal of simplifying healthy living. We are helping customers choose products that suit their dietary preference, lifestyle and health goals. We are adding a new leaf in our journey by building our core team to reach 10 million users in the next three years. We are on track to grow our revenue by 3-4 times by next year. This fundraise will further enable us to achieve our goals in health and nutrition e-commerce."
In the coming months, Cora Health will launch its first version of AI-based product recommendation chatbot to assist people in choosing the right products and ways to use them.
Vishnuraj Kunjur, lead investor at IAN said, "With the current lifestyle, consumption of healthy products which are naturally grown, made without preservatives are no longer an option, it's a must for all. Cora Health has created a vertical commerce ecosystem where nutritionists, healthy producers, and customers interact on a platform. Customers buy day-to-day healthy products from the Cora marketplace."
Cora Health was launched in 2020 with a vision to simplify the wellness journey of millions of Indians looking to improve their health through suitable dietary and lifestyle choices.