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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.

Luggage brand Nasher Miles bags $4 Mn in bridge round

EntrackrEntrackr · 11m ago
Luggage brand Nasher Miles bags $4 Mn in bridge round
Medial

Nasher Miles, a digital-first luggage brand, has raised $4 million in its bridge round to Series A from Singularity Early Opportunities Fund, Narendra Rathi (SoftBank Vision Fund), Sulabh Arya (Goldman Sachs Growth Equity) and Mohit Goyal (CVC Capital Partners) amongst others. As per the company, the funds raised at a post money valuation of $30 million. Earlier in February this year, the Mumbai-based startup had raised funds from all five judges in the Shark Tank India-3 by securing a valuation of Rs 200 crore ($23.8 million). The proceeds will be used to support Nasher Miles’ omnichannel expansion plans. It aims to expand its offline presence to 1,000 multi-brand outlets across India by the end of the calendar year, while also opening 3-5 exclusive brand outlets this financial year. Additionally, Nasher Miles plans to strengthen its quick commerce presence in select cities and increase its production capacity in India, targeting 70-75% domestic manufacturing by December 2024. Launched in 2017 by Shruti Kedia Daga, Lokesh Daga, and Abhishek Daga, Nasher Miles is an internet-first brand of travel bags & luggage. Its product catalog includes corporate backpacks, outdoor travel bags, luggage sets, laptop roller cases, and accessories like luggage covers, neck pillows & masks, backpack rain covers, and more of different customized prints and colors. Nasher claims to have appointed over 20 distributors nationwide and established a presence in 150 stores within just two and a half months. The firm projects its offline channel to become a $12 million revenue stream in the next financial year.

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.

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