Gynoveda Femtech Pvt Ltd.

Gynoveda Femtech Pvt Ltd.

Gynoveda Femtech Pvt Ltd.

March 2023

Announced Date: March 2023

Value: Undisclosed

o3 Capital is the exclusive financial advisor to Gynoveda Femtech Pvt. Ltd. (“Gynoveda”), on its fund raise led by India Alternatives.

Ayurvedic fem-tech brand Gynoveda, has raised a round of funding led by India Alternatives Fund. Other participating investors included Wipro Enterprises, RPG Ventures, DS Group and Alteria Capital. Existing investor Fireside Ventures also participated in the round.

Gynoveda was founded in 2019 by the husband-wife duo Rachana Gupta and Vishal Gupta along with gynaecologist Dr. Aarati Patil with an aim to democratise Ayurveda-enabled, curative self-care solutions for gynaecological and lifestyle-related disorders women face from puberty to menopause.

“Gynoveda has so far improved the health of 3 lakh women residing in 20,000 pin codes of India. This led to the company tripling its revenue year-on-year between FY20 and FY23 to reach ₹100 crores annual revenue run rate within 3 years of its inception,” Founder & CEO Vishal Gupta said.

The company aims to use the fresh capital to double down on strengthening research and development, formulating new ayurvedic offerings, onboarding talent, expanding distribution channels and increasing brand awareness. It also plans a move in the offline market.

“This investment fits perfectly with our investment themes of Women & Health. Today, over 40% of online shoppers are women, up from 10% a few years ago. Women’s health globally is an underserved market,” Shivani Bhasin Sachdeva, Founder, Managing Director and CEO, India Alternatives Private Equity Fund, said.

This marks o3 Capital’s 27th closure in the digital space and 3rd in the last 12 months.