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Jayant Mundhra
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Dexter Capital Advisors • 12h
I hope this does not end up as another startup FRAUD 🙏🙏 Some context first 👇 .. Karan Bajaj, who founded and sold WhiteHat Jr to Byju’s for a whopping $300mn at a prime valuation, is now building a new venture in the cancer care space. Called Complement1, the startup is basically about personalised lifestyle coaching, like WhiteHat Jr was about personalised coding coaching. With $16mn in seed funding from Blume Ventures and Owl Ventures, it seems to have taken off well. .. But, that’s where the good part ends. I mean, I just ran a senior cancer doctor I know through the website. He went through it and had just one word - FRAUD. Now, I don’t know what to say. Basically, his assertion was that the company claims that its lifestyle programmes are all about nutrition, exercise, breathing techniques and meditation - FOUR THINGS that have not been proven to have played any role in preventing cancer so far. However, the company claims that its offering remains effective nonetheless. And it does cite research papers. But, those papers are recent academic research papers, and that’s all. One from 2019 and one from 2021. .. I genuinely and strongly hope that this one does not turn out to be another scam. More so because this one is focussed on human health and body - Things that should not bee played around with. Additionally, the company has already attained a massive valuation. It has raised a $16mn seed round, which is ~Rs 140cr. The valuation will easily be at least 3.5-4x of that. Hence, if something like this fails, it will dent the prospects for other legit players too. What do you think?
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