Women-Focused Wellness Startup Newmi Care Bags Funding From Sprout Venture Partners, Others

Women-focused wellness startup Newmi Care has raised $1.5 Mn (about INR 12.6 Cr) in a seed funding round led by Sprout Venture Partners.

The round also saw participation from a family office, LetsVenture, Sarcha Advisors, Key Ventures Forum and a host of angel investors.

The company plans to use the fresh capital to build its women clinics in northern and western pockets of India, while also strengthening technology and product innovation and team expansion.

Founded in May 2022 by Sanchit Agarwal and Aditi Mittal, Newmi Care provides medical care options for women, aside from which it also sells wellness products like PCOS tea, supplements, menstrual cups, maternity clothing and more.

The company claims to have rendered its services to over 60,000 women across more than 400 cities in India covering health concerns ranging from menstrual, sexual and hormonal health, fertility and maternity, menopause and women reproductive organ cancers.

“We are on a mission to simplify outpatient care for women in India and bring women health to forefront. This capital infusion is a step to move closer to our path to solve for women health at scale in India,” Agarwal said.

The development comes at a time when digital wellness startups have begun to gain funds to expand their product portfolio and services.

For instance, last month, Gurugram-based femtech startup Laiqa Wellness secured INR 15 Cr ($ 1.8 Mn) in its seed funding round from IvyCap Ventures.

In July, D2C wellness brand Hoop raised an undisclosed amount from Olympian PV Sindhu. Hoop was a part of Peak XV Partners’ (erstwhile Sequoia India and Southeast Asia) second cohort of the Sequoia Spark fellowship programme.

Updated at 03:41 PM