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Mosaic Wellness raises $20 Mn at $400 Mn valuation

EntrackrEntrackr · 3m ago
Mosaic Wellness raises $20 Mn at $400 Mn valuation
Medial

Exclusive: Mosaic Wellness raises $20 Mn at $400 Mn valuation Mosaic Wellness, the parent firm of Man Matters, Boywise, and Little Joys, has raised Rs 175 crore (approximately $20 million) from Think Investment in a new round. The board at Mosaic Wellness has passed a special resolution to issue 16,279 compulsory convertible preference shares at an issue price of Rs 1,07,500 each to raise Rs 175 crore or $20 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. The filings further noted that the company plans to utilize the fresh capital for growth, expansion, and general corporate purposes. According to Entrackr estimates, the company has been valued at around $400 million post-allotment. Following the fresh proceeds, Think Investment will hold 5.04% of the company. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health platform that runs three separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. Mosaic Wellness has raised over $65 million to date, including its $24 million Series A led by Peak XV along with existing investors Elevation Capital and Matrix Partners India in 2021. As per the startup data intelligence platform TheKredible, Elevation Capital is the largest external stakeholder, followed by Peak XV and Matrix Partners. The company has recorded a 61.7% year-on-year growth to Rs 333 crore during the fiscal year ended March 2024, compared to Rs 206 crore in FY23. Moreover, the firm managed to control its losses by 37.1% to Rs 39 crore in the same period.

Man Matters-parent Mosaic Wellness crosses Rs 200 Cr revenue in FY23

EntrackrEntrackr · 1y ago
Man Matters-parent Mosaic Wellness crosses Rs 200 Cr revenue in FY23
Medial

Digital health and wellness consultation startup Mosaic Wellness grew at a rapid clip during the last two fiscal years, raising its scale over 18X from Rs 11.47 crore in FY21 to surpass the Rs 200 crore revenue mark in FY23. At the same time, the firm posted Rs 62 crore in losses in FY23. Mosaic Wellness’s revenue from operations surged 163% to Rs 207 crore in FY23 from Rs 78 crore in FY22, its annual financial statements filed with the Registrar of Companies show. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health platform that runs three separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. Income from the sale of health and wellness products is the primary source of revenue for Mosaic Wellness. The company also made Rs 8 crore from interest, tallying its total revenue to Rs 215 crore in FY23. Mosaic Wellness spent a whopping Rs 100 crore on advertising and promotions which is 36% of its overall expenditure. Its cost of procurement of health and wellness products surged 2.6X to Rs 60 crore in FY23. Its employee benefits, freight, commissions, legal/ professional, and other overheads took the overall cost up by 2.2X to Rs 277 crore in FY23 from Rs 126 crore in FY22. Head to TheKredible for the detailed expense breakup. Expense Breakdown Total ₹ 126 Cr https://thekredible.com/company/mosaic-wellness/financials View Full Data To access complete data, visithttps://thekredible.com/company/mosaic-wellness/financials Total ₹ 277 Cr https://thekredible.com/company/mosaic-wellness/financials View Full Data To access complete data, visithttps://thekredible.com/company/mosaic-wellness/financials Employee benefit expense Employee benefit expense Cost of materials consumed Cost of materials consumed Advertising promotional expenses Advertising promotional expenses Transportation Cost Transportation Cost Commission expense Commission expense Legal professional charges Legal professional charges Others To check complete Expense Breakdown visit thekredible.com View full data With a two-fold surge in advertising and employee benefits, losses for the Mumbai-based firm increased 49.4% to Rs 62 crore in FY23 from Rs 42 crore in FY22. Its ROCE and EBITDA margin stood at -38% and -21% respectively. On a unit level, it spent Rs 1.34 to earn a rupee in FY23. Mosaic Wellness has raised over $34 million across rounds including its $24 million Series A led by Peak XV along with the participation of Elevation Capital and Matrix Partners in November 2021. According to the startup data intelligence platform TheKredible, the company was valued at $240 million in its last fundraise. Elevation emerged as the latest external shareholder with a 24.1% stake followed by PeakXV and Matrix Partners with 17.9% and 16.3%, respectively. FY22-FY23 FY22 FY23 EBITDA Margin -46% -21% Expense/₹ of Op Revenue ₹1.61 ₹1.34 ROCE -23% -38% The emergence of startups like Mosaic Wellness can usually be considered a net positive as they take away share from shady operators offering unqualified advice for health related issues. However, with their own dependence on pushing wellness products, many with potentially dubious claims when it comes to benefits, the firm does run the risk of slipping up on credibility at some stage. The high dependence on advertising and promotions is a clear indicator of the efforts required to wean away clientele from smaller mostly unlicensed players. By now, the firm should be in a position to assume leadership, or clear focus on a specific area where it can, and has made a discernible difference to its customers, and build on that for the future.

Man Matters-parent Mosaic Wellness clocks Rs 333 Cr revenue in FY24

EntrackrEntrackr · 5m ago
Man Matters-parent Mosaic Wellness clocks Rs 333 Cr revenue in FY24
Medial

Mosaic Wellness, the parent firm of Man Matters, Boywise, and Little Joys, recorded over 61% year-on-year growth in its operating scale and crossed the Rs 300 crore revenue threshold in the last fiscal year. The firm also narrowed losses by 37% in FY24. Mosaic Wellness’ revenue from operations surged to Rs 333 crore in FY24 from Rs 206 crore in FY23, according to its consolidated annual financial statements sourced from the Registrar of Companies. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health platform that runs three separate brands for men, women, and kids. Its flagship brand ManMatters offers solutions across derma, sexual health, hygiene, and nutrition. The sale of health and wellness products was the only source of income for Mosaic Wellness in FY24. It also added Rs 8 crore from the interest on deposits and gain on sale on investments, bringing its total revenue to Rs 342 crore in FY24. Mosaic Wellness's advertising cost increased to Rs 138 crore in FY24, marking a 38% year-on-year increase. Its procurement costs grew 52% to Rs 93 crore, while employee benefits rose by 33% to Rs 52 crore. Other expenses, including commissions, packaging, legal, and overheads, increased, bringing total expenses to Rs 380 crore in FY24. Despite expenses, Mosaic Wellness managed to reduce its losses by 37% to Rs 39 crore in FY24, compared to Rs 62 crore in FY23. Its ROCE and EBITDA margin improved to -24.2% and -10.8%, respectively. The company reported total current assets of Rs 188 crore, including Rs 61 crore in cash and bank balances by the end of FY24. Mosaic Wellness has raised over $35 million to date, including $24 million in a Series A round led by Peak XV, along with existing investors Elevation Capital and Matrix Partners India. The company is reportedly in talks to raise a new round. In a market revitalized by HUL’s acquisition of Minimalist, attention has turned to firms like Mosaic Wellness that have scaled past Rs 300 crore in revenue. The company should feel confident having crossed this threshold and having the runway to explore further funding or other strategic avenues.

D2C brand Wellness Nutrition raises debt

EntrackrEntrackr · 3m ago
D2C brand Wellness Nutrition raises debt
Medial

Wellbeing Nutrition, a D2C health & wellness startup, is raising Rs 25 crore (approximately $3 million) in debt funding led by pharma company ACG-Capsules with the participation of Maheshwari Investors Pvt Ltd, MGB Advisors, and Atmos Finance. The board at Wellbeing Nutrition passed a special resolution to issue 2,500 optionally convertible debentures (OCDs) at an issue price of Rs 1,00,000 each to raise Rs 25 crore or $3 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. ACG led the round with Rs 10 crore investment while Maheshwari Investors, MGB Advisors, and Atmos Finance will be contributing Rs 5 crore each. According to filings, the company will utilize these funds for general business operations, including capital and working capital expenditures. Founded by Avnish Chhabria, Wellbeing Nutrition is a whole-food nutrition company specializing in plant-based ingredients to promote overall wellness. Its product range includes solutions for daily wellness, sleep, headaches, gut health, hair loss, and skincare. According to startup data intelligence platform TheKredible, the D2C company has raised close to $14 million to date, including a $10 million Series B round raised from Fireside Ventures and Hindustan Unilever (HUL) in December 2022. For the fiscal year ended March 2024, Wellbeing Nutrition reported Rs 70 crore in operating revenue while incurring a loss of Rs 32 crore during the same period.

Visit Health raises $30 Mn in primary and secondary transaction

EntrackrEntrackr · 11m ago
Visit Health raises $30 Mn in primary and secondary transaction
Medial

Telehealth and wellness platform Visit Health has raised Rs 250 crore ($30 million) in a combination of primary and secondary purchase of stake in the company held by Docprime Technologies, the current promoters and employees. Visit Health will use the funds to expand its business which involves a strategic partnership with health and wellness platform TatvaCare, the company said in a press release. In October 2021, DocPrime invested around $7.5 million in Visit Health. The New Delhi-based company had also scooped up $1.4 million in seed round from investors such as MapmyIndia, Snapdeal co-founders Kunal Bahl and Rohit Bansal, and Hetero Drugs Director Murali Krishna. In May, PB Fintech said that it will divest 29% of its holdings in Visit Health, which will be valued at Rs 76 crore ($9 million). The firm also added that it will make a divestment of Rs 2 crore in Visit Internet. Eight-year-old Visit Health offers customized wellness & OPD programs for SMEs and corporates’ employees and their families. It claims to serve more than 400 companies through its network of hospitals. Startup data intelligence platform TheKredible shows that DocPrime controlled 14.4% stake in Visit Health as of Series A round. For the fiscal year ending in March 2023 (FY23), Visit Health registered nearly three-fold jump in its revenue to Rs 53 crore from Rs 17.55 crore in FY22. The company managed to keep its losses below Rs 1 crore in FY23. It is yet to file FY24 numbers. On Tuesday, PB Fintech released its quarterly results. The company’s revenue slipped to Rs 1,010 crore in Q1 FY25 as compared to Rs 1,090 crore during the quarter ended March 2024. Despite the decline in scale, it managed to maintain steady profits, which stood at Rs 60 crore in Q1 FY25. Update: The headline and story have been updated to add correct information from Visit Health’s press release.

Men’s sexual health brand Bold Care raises $5 Mn

EntrackrEntrackr · 5m ago
Men’s sexual health brand Bold Care raises $5 Mn
Medial

Men’s sexual health and wellness brand Bold Care has raised $5 million in a funding round co-led by Nithin Kamath’s Rainmatter, CaratLane co-founder Mithun and Siddhartha Sacheti, the Dhanani family, AVT Group, along with participation from Gruhas Collective Consumer Fund and NB Ventures. Entrackr exclusively reported on the deal in December. The proceeds will be used to strengthen research and development (R&D), scale the brand’s digital presence, and develop sexual health solutions for both men and women, Bold Care said in a press release. Co-founded in 2020 by Rajat Jadhav, Rahul Krishnan, Harsh Singh, Mohit Yadav, and actor Ranveer Singh, Bold Care provides solutions for issues such as premature ejaculation (PE) and erectile dysfunction (ED). It also offers condoms and lubricants and claims to have fulfilled over 30 lakh (3 million) orders so far. Bold Care has recently expanded into the women’s wellness sector with the launch of Bloom, offering solutions for women’s health concerns, including sexual health, personal hygiene, menopause, menstrual care, and pregnancy. The Mumbai-based startup currently sells its products through its own website, as well as on e-commerce platforms like Amazon, Flipkart, Myntra, and Meesho. It is also available on quick commerce platforms. According to market research, sexual health issues affect approximately 90-95 million men in India. For the fiscal year ending March 2024 (FY24), Bold Care’s revenue from operations increased by 6.67% to Rs 32.9 crore from Rs 30.90 crore in FY23. However, the company also reported a 21.46% increase in losses to Rs 19.3 crore in the last fiscal year. Bold Care competes with other D2C sexual and wellness brands, including Man Matters, Kindly, Sukham, Kapiva, and Sassiest, among others.

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