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Exclusive: HyugaLife’s parent Pratech Brands raises $6.3 Mn in Seed round

EntrackrEntrackr · 1y ago
Exclusive: HyugaLife’s parent Pratech Brands raises $6.3 Mn in Seed round
Medial

Pratech Brands, a digital-first retailer and parent entity of HyugaLife, has raised Rs 52 crore or $6.3 million in a seed funding round led by Spring Marketing Capital and Stride Ventures. The round also saw participation from Peak XV Partners’ Surge Ventures among others. The board at Pratech Brands has passed a special resolution to issue 21,77,817 Seed compulsory convertible preference shares (Seed CCPS) at an issue price of Rs 168.15 each for a consideration of Rs 36.62 crore or $4.4 million. In a separate resolution, the company also issued 29,735 partly paid CCPS at Rs 168.15 per share and 1,500 non-convertible debentures (NCDs) Rs 1,00,000 each to Stride Ventures to raise Rs 15.5 crore, the company’s regulatory filings with the Registrar of Companies show. Stride Venture and Spring Marketing Capital led the funding round with Rs 15.5 crore and Rs 12.5 crore investments, respectively. This was followed by Surge Ventures which infused Rs 10 crore. Oorumane Mercantile, Patni Wealth Advisors, Eco Power Systems, AS Desaai Consultants, AMD Consultancy Services and individuals namely Nihir Parikh, Dhaval Parikh, Sandhya Shah, Rohan Mehta, Suhagi Parikh, Nimish Shah, Prakash Shah, Nitesh Jha, Simraan Teckchandani, Priya Ujgaonkar and Karan Jindal invested the remaining sum. As per startup intelligence platform TheKredible’s estimates, Pratech Brands has been valued at around Rs 160 crore or a little over $19 million. To date, the company has raised around $9.3 million. Note: The information is based on the three separate regulatory filings filed in June, October and December 2023. Pratech Brands is a tech-first house of brands that focuses on products relating to home and health by uncovering consumer needs and building consumer brands. Its health and wellness brand HyugaLife recently raised $1 million from Stride Ventures, and Getvantage in January. The brand is also backed by Indian cricketer K L Rahul and actress Katrina Kaif. For context, HyugaLife operates under Hyuga Health & Wellness Private Limited and Hyuga Ecommerce Ventures Private Limited, the both entities are subsidiaries of Pratech Brands Private Limited. Additionally, Pratech Brands also owns Neesan Ventures and a natural healthcare brand for female hormones, Inaari. Following the fresh capital infusion, promoters of the company Neehar Modi, Sandhya Shah, Sachin Parikh, Shruti Parikh and Anvi Shah collectively own over 52% of the company. Surge Ventures owns an 18.6% stake while Spring Marketing Capital has a 9.4% stake in the company. For the complete shareholding pattern, click here. Pratech Brands’ revenue from operations grew to Rs 4.87 crore in FY23 from Rs 1.71 lakh in FY22. As per TheKredible, the company’s losses soared to Rs 25.39 crore during FY23 as compared to Rs 99 lakh in FY22.

Ranveer Singh-Backed Bold Care Ventures Into Women’s Wellness

Inc42Inc42 · 9m ago
Ranveer Singh-Backed Bold Care Ventures Into Women’s Wellness
Medial

- Bold Care, co-founded by Ranveer Singh, has introduced Bloom, a new brand catering to women's wellness. - Ranveer Singh, also an investor in boAt and SUGAR Cosmetics, has joined the trend of celebrities entering the wellness startup industry. - The launch of Bloom aligns with the expanding Indian smart wearables market, which is anticipated to witness a significant growth rate. - The women's wellness market is a key focus for Bold Care as it aims to cater to the specific needs and requirements of women across different life stages. - Bold Care's Bloom aims to provide comprehensive and tailored solutions for women's health and wellness needs, empowering them to live their best lives. - The collaboration between Bold Care and Ranveer Singh reflects the increasing importance of wellness and self-care in today's society.

Health startup Newmi Care raises $1.5 million from Sprout Venture Partners, others

Economic TimesEconomic Times · 10m ago
Health startup Newmi Care raises $1.5 million from Sprout Venture Partners, others
Medial

Women's health and wellness startup Newmi Care has secured $1.5 million in seed funding led by Sprout Venture Partners. The funding round also saw participation from LetsVenture, Sarcha Advisors, Key Ventures Forum, and other angel investors. Newmi Care plans to use the funds to establish women's clinics in northern and western India, enhance its technology, drive product innovation, and expand its team. The startup offers a comprehensive platform for women's healthcare, covering consultations, diagnostics, procedures, medications, and health tracking. It aims to simplify outpatient care for women in India and has already served over 60,000 women across various cities.

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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