Femtech Startup Healofy Raises $6.5 Mn In Series B Funding

SUMMARY

The app acts as a ‘women’s social network; provides recommendations and advice for expectant and new mothers, also runs marketplace with doctor-recommended childcare product

The Indian maternity and childcare products market is expected to grow at 15%

The startup already processes 50,000 orders per month

Femtech startup Healofy has raised $6.5 Mn in Series B funding from Celestia Capital and existing investor Omidyar Network India. Healofy has also raised $1 Mn in debt from Stride Ventures.

Healofy provides consultation and support for pregnant women from the preconception phase to early motherhood. The platform also hosts a marketplace where users can buy childcare products. The app also acts as a ‘women’s social network’ for expectant and new mothers.

“Across the top 20 Indian cities, one out of four women in early stages of motherhood access the Healofy app on a monthly basis,” said Gaurav Aggarwal, CEO and cofounder, Healofy.

The startup’s D2C business has a community-driven approach where the products offered are those recommended by a network of obstetricians and gynaecologists.

“Healofy’s D2C portfolio helps mothers tap into the power of conversational commerce, learn from peers by exchanging experiences and product reviews while shopping on our platform. We are already processing over 50,000 orders per month and hope to benefit many more women through this key life stage,” added Aggarwal.

The global market for maternity and childcare products was estimated to be worth around $87.2 Bn in 2017 and is expected to grow at a CAGR of 4.39% to reach $108 Bn. The market in India was valued at $2.3 Bn in 2018 and is expected to grow at an annual rate of 15% for the next few years..

Earlier this month, Mumbai-based content commerce group Good Glamm had acquired D2C mom and baby brand The Moms Co., aiming to grow the D2C brand’s revenue run rate to INR 500 Cr in the next two years.

In August this year, D2C beauty and personal care startup MyGlamm had acquired Mumbai-based parenting platform BabyChakra, with MyGlamm set to invest INR 100 Cr in BabyChakra over the next three years.