You can be on Entrepreneur’s cover!

Gynoveda Raises $10 Million In Series A Funding Round 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

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

Gynoveda, an Ayurveda-backed women's healthcare startup, has raised $10 million in Series A funding led by India Alternatives Fund. The round also saw participation from reputed family offices and institutions including Wipro Enterprises, RPG Ventures, Dharampal Satyapal Ltd, and Alteria Capital. Existing investor Fireside Ventures, India's leading early-stage venture capital fund, which had earlier invested $1 million as Seed capital, also participated in this round. The company plans to utilize the fund 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.

"Gynoveda has so far improved the health of 3 lakh women residing in 20,000 pincodes of India. This led to the company tripling its revenue year-on-year between FY20 and FY23 to reach INR 100 crores annual revenue run rate within 3 years of its inception. Gynoveda is on a mission to change the lives of 1 million women, which is still a fraction of the billion women worldwide that need this unique ayurvedic solution," said Vishal Gupta, founder and CEO, Gynoveda.

Gynoveda aims to revolutionise the $9.6 billion global women's healthcare industry by being the first player to introduce Ayurveda as a solution to solve complex gynaecological disorders. The company has tripled its gross revenue year-on-year between FY20 and FY23 to reach INR 100 crores annual revenue run rate within 3 years of its inception. The google rating of 4.8 further reflects the growing customer love and trust by over 3 lakh women spread across 20,000 pincodes in India, claimed by the company in a statement.

"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. We are proud to back a company that uses an age-old science like Ayurveda in a new format to provide solutions for this large addressable market," said Shivani Bhasin Sachdeva, founder, managing director, and CEO of the India Alternatives Private Equity Fund.

Founded by Vishal and Rachana Gupta in 2019, who were later joined by Dr. Aarati Patil {M.D Obstetrics and Gynecology (Ayu)} Gynoveda aims to transform the way gynaecological disorders are treated.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Leadership

You Won't Have a Strong Leadership Presence Until You Master These 5 Attributes

If you are a poor leader internally, you will be a poor leader externally.

Branding

94% of Customers Say a Bad Review Made Them Avoid Buying From a Brand. Try These 4 Techniques to Protect Your Brand Reputation.

Maintaining a good reputation is key for any business today. With so many people's lives and shopping happening online, what is said about a company on the internet can greatly influence its success.

Business News

Samsung Makes 6 Day Workweeks Mandatory for Executives as the Company Enters 'Emergency Mode'

Samsung said its performance "fell short of expectations" last year. Now executives are required to work weekends.

News and Trends

IT Firm Happiest Minds Technologies Acquires Macmillan Learning India

The deal will likely be finished by April 30 and will cost INR 4.5 crore.

Resumes & Interviewing

Build a Better Resume with This $35 Subscription

AI Resume Builder promises to help you apply to jobs twice as fast.

Starting a Business

6 Effective Funding Strategies for Startups

Navigating startup financing is complex. Entrepreneurs find themselves at the crossroads of innovation and survival, where a single decision can either fuel their dreams or extinguish their aspirations. Here we look at six ways you can finance your startup to support your business for long-term success.