Facebook Co-Founder’s Firm to Back Indian Sexual Health Startup
(Bloomberg) -- Indian health-tech startup Mojocare has raised $20.6 million in a series A round led by B Capital Group, the venture capital firm set up by Facebook Inc. co-founder Eduardo Saverin and Raj Ganguly.
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Existing investors including Sequoia India’s Surge, Chiratae Ventures and Better Capital also participated in the round, according to a press release confirming a Bloomberg News report. The Bangalore-based company plans to use the proceeds for purposes including expanding its teams and further diversifying its product portfolio.
“We will remain focused on specialty wellness -- men’s sexual wellness, women’s wellness and fertility, mental wellness, hair and skin care, obesity management,” said Mojocare co-founder Rajat Gupta in an emailed statement. “These are areas which affect nearly half a billion Indians and where the average user experience is very chaotic and broken.”
Started by Ashwin Swaminathan and Gupta in 2021, Mojocare helps consumers address issues including reproductive health and fertility, hair care and weight loss through an online platform that includes product sales and personalized consultations with doctors, therapists and nutritionists, the release shows.
The company’s founders “are solving one of the largest problems in consumer health and wellness and can radically transform the way people think about specialty wellness,” said Karan Mohla, partner at B Capital, in the release. “They are attracting the best talent in the country and their patient experience and care layer is inspiring.”
Founded in 2015 by Saverin and Ganguly, B Capital seeks to help startups gain scale and transform their industries, backing them from seed investments to a potential initial public offering, its website shows. It counts about $6.5 billion in assets under management and more than 125 portfolio companies.
(Adds Gupta quote in third paragraph.)
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