Mosaic Wellness (Mosaic), an Indian health and wellness start-up running digital health clinic platforms Manmatters and Bodywise, has raised $24 million in a Series A funding led by Sequoia Capital India.

Its existing investors Elevation Capital and Matrix Partners India also participate in the round, Mosaic Wellness said in a statement.

Mosaic previously raised a $10 million Seed round in December 2019 pre-launch from Elevation Capital, Sequoia Capital India and Matrix Partners India alongside marquee Angels like Jitendra Gupta, Kunal Shah, and Jaydeep Barman.

Founded by Revant Bhate and Dhyanesh Shah in early 2020, Mosaic was set up with the vision of delivering consumer-centric, vertically integrated, and affordable digital healthcare platforms, which led to the birth of Manmatters in May 2020 and Bodywise in May 2021, which are focused on curated services and products for Men’s health and Women’s Health respectively.

The business now has annualized revenues of $14 million and serves more than 100,000 customers a month across its health and wellness offerings.

“We started with a vision to make wellness accessible and affordable for Indians and have been able to build a very purpose-driven team, keen to solve for this. As we have validated our initial thesis we are thankful to all the stakeholders who have helped us get to this stage and continue to aspire to help more of us lead a healthier lifestyle in the coming decade,” said Revant Bhate.

Meanwhile, Sequoia Capital India Principal Abhishek Mohan said that over the last 18 months, Mosaic has executed brilliantly, growing almost 10 times in terms of users and revenue.

“It’s a testament to the clear white space for digital-first health clinics in India and the strong value proposition the company has built for both men and women across multiple treatment areas. We are excited to double down on the partnership and for the journey ahead,” he said.

According to the statement, Manmatters has now served more than 300,000 men across key therapeutic areas like dermatology, sexual health, hygiene, and nutrition. This digital clinic for men provides primary care services and products that help men with erectile dysfunction, premature ejaculation, hair loss, gut health, nutritional deficiencies, etc. They have also recently expanded into providing diagnostic services for general health needs.

Meanwhile, Bodywise has already served more than 100,000 women across key therapeutic areas like hair loss, polycystic ovary syndrome (PCOS), skin health, intimate health, and nutrition. This full-stack health and wellness platform includes a community, telehealth consultation, and diverse portfolio of products for skincare, haircare, weight management, nutrition, PCOS, and intimate health.

“We partnered with Revant and Dhyanesh at the paper plan stage, and their DNA of building consumer-first propositions was quite evident even at that time. Since then, it has been very exciting to see how they have executed, built a solid team, and expanded the vision to solve a very hard problem of providing a digital health coach remotely via technology at scale,” said Mukul Arora, Managing Director of Elevation Capital.

Matrix India Founder and Managing Director Avnish Bajaj also said: “It has been a pleasure and a privilege working with Revant and Dhyanesh in this journey which is just starting – have been amazed by the analytical rigor layered on top of customer backward thinking from Day Zero. A very strong foundation is in place for an amazing team executing to their full-stack health and wellness vision and exciting times ahead!”

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