Sequoia leads $24m round of Indian wellness startup

Mosaic Wellness, an Indian health and wellness startup, has secured US$24 million in a series A round led by Sequoia Capital India, with participation from existing investors Elevation Capital and Matrix Partners India.

Team Mosaic Wellness / Photo credit: Mosaic Wellness

Founded by Revant Bhate and Dhyanesh Shah in early 2020, the Mumbai-based startup runs digital health clinic platforms such as Man Matters and Bodywise.

These platforms focus on curated services and products for men’s and women’s health, respectively. Mosaic Wellness has annualized revenues of US$14 million and serves more than 100,000 customers per month.

“Over the last 18 months, the company has grown almost 10x 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,” said Abhishek Mohan, principal at Sequoia India.

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Man Matters has so far served nearly 300,000 men across domains like dermatology, sexual health, hygiene, and nutrition, while Bodywise has attended to over 100,000 women across for health issues like hair loss, skin health, reproductive and sexual health, and nutrition. These full-stack health and wellness platforms include community and telehealth consultation, as well as a diverse portfolio of other products.