Mosaic Wellness raises $24 Mn in Series A round

Digital health and wellness consultation startup Mosaic Wellness has raised $24 million in its Series A round led by Sequoia Capital India along with existing investors Elevation Capital and Matrix Partners India.

The company has also raised a seed round of $10 million back in December 2019 in which angel investors including Jitendra Gupta, Kunal Shah and Jaydeep Barman also participated.

The newly raised capital will be used in the acquisition, upgrading the current tech stack and hiring quality talents.

Founded in 2020 by Bhate and Dhyanesh Shah, Mosaic Wellness is a digital-first consumer health clinic, which runs two separate brands: Manmatters for men's health and Bodywise for women's health. 

The company's men focused brand Manmatters claims to have served over 300K men across therapeutic areas like dermatology, sexual health, hygiene and nutrition. On the other hand, the women-focused brand, Bodywise has served over 100K women in areas like PCOS, skin health, hair loss and nutrition.

The company said that it has an annualised revenue of $14 million with a 20% MOM growth and 10X users and revenue growth over the past 18 months. The Mumbai-based company is aiming to reach an annualised revenue of $50 million over the course of the next 18 months.