As consumer wellness products and services continue to evolve in India, growing income levels and increasing awareness have triggered a change in aspirations and behavior.
Amidst this increased enthusiasm, a consumer brand-focused startup Mosaic Wellness has raised $10 million in its maiden round of funding led by SAIF Partners, Sequoia India, and Matrix Partners.
The investment round also witnessed the participation from marquee angels including Jitendra Gupta, Kunal Shah, Jaydeep Barman, Sahil Barua, Amit Lakhotia, and others.
The fresh infusion of capital would be utilized by the firm to hire the team and bolster its research and development, said the company on Monday.
Following the deal, Mukul Arora from SAIF, GV Ravishankar from Sequoia and Avnish Bajaj from Matrix will join the board of this Mumbai-based startup.
Launched by Revant Bhate (former CXO at Rebel Foods and ex-partner at Kstart) and Dhyanesh Shah (earlier Principal at Eight Roads and McKinsey), Mosaic Wellness is a digital-first, multi-brand consumer goods company with each of its brands working to help Indians lead a life surrounded by wellness.
This venture which is modeled on building customer-first brands in the growing consumer brand space in India intends to offers high-quality products that are easy-to-use, paired with access to ongoing guidance and support.
Furthermore, Mosaic claims that each individual will be assisted by the doctors, aided by AI and tech, and supported by a community of users and practitioners at the company.
According to the company’s official website, it would launch its operations in May 2020.