SUMMARY
Kindly will use the fresh capital to accelerate growth and expand across domestic and international markets
The Bengaluru-based startup offers treatments for sperm health, sexual performance for men along with a slew of other treatments for women too
It aims to grow its user base to 130 Mn and also, launch a mobile-based app in the coming months
Healthtech startup Kindly has raised $3.5 Mn in the latest funding round from Y Combinator, DG Daiwa, Olive Tree, Soma, Goodwater, and Gaingels.
Kindly will use the fresh capital to accelerate its growth and expand across domestic and international markets.
Commenting on the fundraising, Nilay Malhotra, cofounder and CEO of Kindly, said, “The funding will elevate us from a disruptor brand to a market leader in the lifestyle and sexual wellness market. With fresh product lines, a tech-enabled platform for easy access to our services, and our intention for global expansion, we are poised to enter the next phase of our growth.”
Founded in 2021 by Nilay Malhotra and Raj Garg, the Bengaluru-based startup provides end-to-end solutions for sperm health, sexual performance for men while addressing the problem of low libido, PCOS, irregular periods and period pain in women.
Kindly essentially has two verticals – Kindly His and Kindly Hers. Kindly His converse about sexual performance and sperm health in men. On the other hand, Kindly Hers focuses on women’s wellness offering products and services for sexual, menstrual, and hormonal problems.
Kindly is planning to enter newer categories so as to address more sexual health and lifestyle issues. Furthermore, it aims to grow its user base to 130 Mn and also launch a mobile-based app in the coming months, according to the statement.
In India’s healthtech sector, it faces competition from the likes of MediBuddy, MFine, Portea, and Breathe Well-being.
Recently, healthtech startup MediBuddy acquired the online consultation platform Clinix to expand into non-metro cities of India. On the other hand, MFine, which is facing a liquidity crunch, is going to merge with healthcare and diagnostics company LifeCell International. After merging with LifeCell, MFine will be renamed as LifeWell.
Earlier this month, Portea’s parent company Healthvista India also filed its DRHP with SEBI to raise nearly INR 1,000 Cr through an IPO.
According to a NITI Aayog report, the Indian healthtech market is poised to touch $5.5 Bn by 2025, growing at a CAGR of 31% between 2021 and 2025.
