Parent company of digital wellness platforms Man Matters, Bodywise, and Little Joys, Mosaic Wellness has raised $20 million in a Think Investment-led round. The valuation of the company is around $400 million. Growth projects, expansion, and general corporate purposes will be funded using the money.
Founded in the early months of 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness was poised to shake up digital healthcare in India. The two founders, veterans with strong roots in the consumer brands space, could feel a ginormous gap in the market for solution-oriented, digitally driven health platforms. Feeling the necessity, Man Matters was started in May 2020 as men’s health clinic and Bodywise in May 2021 as women’s health specialty. Little Joys was initiated in 2022 for children’s healthcare needs. The platforms are offering a variety of services like telemedicine consults, supplements, and wellness products.
Astounding Growth Trajectory
Mosaic Wellness has posted excellent financial performance in recent financial years. In FY22, the company’s revenues were ₹78.3 crore, six times higher than last year. Momentum of growth was sustained further in FY23, and the revenues surpassed ₹200 crore. The latest fiscal reports for FY24 show revenues at ₹333 crore, a 61% year-over-year increase. The company itself cut losses by 37% in the same period.
Strategic Investments Driving Expansion
The recent $20 million investment adds to Mosaic Wellness’s growing list of funding. In November 2021, the firm raised $24 million in a Sequoia Capital India-led Series A round, with participation from Elevation Capital and Matrix Partners India. Earlier, in December 2019, it had raised a $10 million seed round from these investors, along with well-known angels such as Jitendra Gupta, Kunal Shah, and Jaydeep Barman.
Affordability and Accessibility of Healthcare
Mosaic Wellness hopes wellness for everyone and at a reasonable price. Mosaic Wellness continues to endeavor to expand its services and develop new ones with the intention of serving the diverse health care needs of children, women, and men in India.
