Gynoveda, a women’s healthcare firm supported by Ayurveda, has raised $10M in Series A funding, with India Alternatives Fund as the lead investor. Reputable family offices and organisations including Wipro Enterprises, RPG Ventures, Dharampal Satyapal Limited, and Alteria Capital also participated in the round. As a sign of its sustained support for Gynoveda’s mission, previous investor Fireside Ventures, India’s top early-stage venture capital firm, which had previously invested $1 million as seed money in October 2019, also took part in this round. Gynoveda, established in 2019 by Rachana & Vishal Gupta, a husband-and-wife team, and Dr. Aarati Patil, intends to democratise Ayurveda-enabled, therapeutic self-care solutions for gynaecological and lifestyle-related problems women experience 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”