Gynoveda, an Ayurveda-backed women’s healthcare startup, has raised USD10 M 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 USD1 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 ecommerce 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 and 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 per cent of online shoppers are women, up from 10 per cent 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 and 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.”

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