Healthtech startup Mosaic Wellness reported a 60% increase in revenue for FY24, reaching 333.32 crore rupee (US$37.97 million), up from 206.20 crore rupee (US$23.49 million) in the previous fiscal year.

The startup’s total income stood at 341.69 crore rupee (US$38.92 million), including 8.37 crore rupee (US$953,419) in other income.

Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness runs digital health platforms such as Man Matters, Be Bodywise, and Little Joys, catering to men, women, and children.

Product sales contributed 332.4 crore rupee (US$37.86 million).

However, expenses increased by 38% to 380.47 crore rupee (US$43.34 million), driven by higher stock-in-trade purchases, employee benefits, and marketing costs.

The startup has raised US$35.25 million so far from investors including Peak XV Partners, Elevation Capital, and Matrix Partners India.

The most recent funding round was a US$24 million Series A led by Peak XV (formerly Sequoia Capital India) in 2021.