Women Led Startup Gynoveda Secures $10M Funding Led By India Alternatives Fund

The round also saw participation from Wipro Enterprises, RPG Ventures, Dharampal Satyapal Ltd, and Alteria Capital amongst others. Read to know the details of funding!

16 Mar 2023
New Update
Women Led Startup Gynoveda Secures $10M Funding Led By India Alternatives Fund

A Women led startup, Gynoveda has claimed to have raised $10M 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 in Oct 2019, also participated in this round showcasing its continued belief in Gynoveda’s vision. Gynoveda, founded in 2019 by the husband-wife duo - Rachana & Vishal Gupta and Dr. Aarati Patil aims to democratise Ayurveda-enabled, curative self-care solutions for gynaecological and lifestyle-related disorders women face from puberty to menopause.

With the help of this funding, the company aims 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. Currently, empowering women via D2C channels like the website, and e-commerce marketplaces, Gynoveda plans to step into the offline domain in the near future to reach women across the breadth and depth of India.

In a statement, the company Founder & CEO, Vishal Gupta, said that “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 ₹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."

Shivani Bhasin Sachdeva, Founder, Managing Director, and CEO of the India Alternatives Private Equity Fund, said, “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”

Vinay Singh, Partner, Fireside Ventures, said, “Gynoveda’s disruptive vision combined with research-backed solutions is enabling it to bring tangible change in the lives of women. We are very impressed with how Vishal, Rachana & Dr. Aarati are building a robust healthcare stack for menstrual & reproductive health. We are glad to be a partner in their journey to completely transform women's healthcare ecosystem, ground up”

The Offering & Success

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. Gynoveda’s ayurvedic proprietary medicines certified by FDA & NABL, help treat the root cause of more than 20+ period disorders including PCOS, Infertility, irregular periods, vaginal health and much more. Where modern medicines offer only temporary relief, Ayurveda promises safe solutions to experience hassle-free periods lifelong.

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.

Past Funding Of Gynoveda 

In their Seed round, Gynoveda had raised a $1 million amount led by Fireside Ventures. In 2022, Bollywood actor Tapsee Pannu joined the brand’s mission as a brand ambassador.

Founded by Vishal & Rachana Gupta in 2019, who were later joined by Dr. Aarati Patil {M.D Obstetrics & Gynecology (Ayu)} the brand aims to transform the way gynaecological disorders are treated. Currently a team of 50+ members strong, it combines ayurveda, technology, content, and community for women’s healthcare.

(Disclaimer: TICE news did not write this content. It is based on a press release sent by the company or the organisation.)