B Capital Helps Mojocare Raise $20.6 MN in Series A Round

23-08-2022, The Bengaluru based health-tech startup will be doubling down on product, marketing and care delivery post the funding round. 

While B Capital spearheaded the funding, Chiratae Ventures, Sequoia India’s Surge and Better Capital – existing investors of Mojocare - were also involved. So were other angel investors including Kunal Shah (CEO, CRED), Vineet Jain (MD, Times Group), Ankit Nagori (Founder, Curefoods ),  Adrian Auon (CEO, Forward), Sajid Rahman (Founder & CEO, Telenor), Ravi Bhushan (CEO, Brightchamps) and Bounce founders People Vivekananda HR. 

The new shot of funds is expected to expand Mojocare’s product portfolio and amplify go-to-market strategies with particular focus on distribution. The leadership will also focus on hiring more people in content and care delivery.

Mojocare was conceived in 2020 by Ashwin Swaminathan and Rajat Gupta, and provides personalized care delivery systems in areas like sexual health, women’s health, mental health and hair loss. Medicine and consultation with nutritionists, therapists, health trainers and doctors is also provided on the platform. At Mojocare, top minds and talent are given the space and opportunity to work on the largest and most interesting problems in consumer health and wellness – over a distribution-first approach - to unlock a massive, latent and broken market. 

Marking the moment, Ashwin Swaminathan, co-founder of Mojocare, said to the media…
“Despite the seemingly crowded space, most players offer a transactional experience…We are taking a very distribution-first approach to unlocking this addressable market and driving the growth of the funnel through solid clinical content, expert access and Crypto engagement. Top – leading the user journey,” 

Mojocare had raised $3.08 million in its seed round in October 2020 from Chiratae Ventures, Sequoia India, Lenskart’s Peyush Bansal, Snapdeal’s Kunal Bahl and Rohit Bansal. The startup claims to have grown 60x since May 2021, with service providers on its platform experiencing 12x growth in roughly the same period. 

Karan Mohla, partner at B Capital, shared his views over the development: “They are attracting the best talent in the country with an inspiring layer of patient experience and care. We are excited to support emerging new healthcare in emerging markets Care delivery systems to address the fundamental disruption of the care value chain by leveraging technology and data in full-stack offerings”.

*This press release is published by VOH team.*