India-based direct-to-consumer (D2C) health-tech startup Good Health Clinic (GHC) has raised $10 million in Series A funding led by Left Lane Capital.
Existing investors such as Khosla Ventures, Quiet Capital, and Weekend Fund also participated in this round, GHC said in a statement on Wednesday.
With a focus on raising awareness about health and wellness, the startup provides a full stack solution for patients with conditions like hair fall, sexual health, and weight loss, amongst others.
In the next few months, the company plans to use the fresh funds to introduce more product categories, focus on product innovation and expand the existing team.
Starting its operations in January 2021, GHC initially focused on the personal care market for men.
The Founder – Samarth Sindhi, wanted to bridge the gap between unmet demands of skin and hair challenges that men faced.
Their male vertical – Mars by GHC (ghc.health) provided a full-stack solution for men facing problems like hair fall, sexual health, weight loss, skincare, etc.
Following the brand’s success, the company also recently launched Saturn by GHC (saturn.health) – a full-stack solution for females.
“Our aim, right from the first day, was to provide a scientifically proven solution to the unmet healthcare care needs of our consumers. In the last few months, we have worked towards expanding the product categories and introducing informative content to raise awareness about men’s self-care needs,
“We are happy to have achieved our targets and are thrilled by the trust displayed by our investors as we move to the next step of wellness in India,” said Samarth Sindhi, Founder of GHC.
As per a Redseer report, India’s Health-tech industry will likely touch $9 billion to $12 billion gross merchandise value (GMV) by 2025 and $40 billion GMV by 2040, which is a clear indication of a remarkable market opportunity for players in this space.
“The global health and wellness industry is a $1.5 trillion market growing steadily at 5 percent to 10 percent annually, with the Indian market contributing to it at an exponentially increasing rate,” said Vinny Pujji, Managing Partner at Left Lane Capital.
“Good Health Company’s rapid growth rate these past 18 months is testament that India’s population is hungry for scientifically proven, medical-grade health and wellness products,
“Their D2C model, in which they offer free health consultations to patients, humbly addresses one of the largest healthcare challenges. We are honored to be along for the journey and look forward to helping GHC bring quality health products to underserved markets,” he added.
After raising the seed round of $5.2 million led Khosla Ventures in June 2022, GHC aimed to expand into more categories to help people with scientific and medical solutions for personal care problems from the comfort of their homes.
Mars by GHC (ghc.health) and Saturn by GHC (saturn.health) provide free consultations and a course of treatment for any skin, hair and sexual health problems for both men and women.
The experts on the platform prescribe the clients a course of treatment after the client fills up a questionnaire. The products prescribed by the experts are available on the GHC website for home delivery across India.
The startup has also developed and published informational and educational content via blogs and videos to educate their probable consumers.
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