Hyderabad-based direct-to-consumer (D2C) startup Good Health Company (Clinic) has raised $10 million in a Series A funding round, led by New York-based venture capital firm Left Lane Capital.
Existing investors including Khosla Ventures, Quiet Capital and the Weekend Fund also participated in this round.
The Good Health Company said in a statement Wednesday that Good Health plans to use the proceeds to introduce more product categories, focus on product innovation and expand the existing team.
The startup was founded in January 2021 by Samarth Sindhi. Provides solutions for patients with conditions such as hair loss, sexual health and weight loss, among others.
Good Health Company's 'Mars' vertical focused on the men's grooming market. The company recently launched a "Saturn" vertical that focuses on products that address women's issues.
“The $1.5 trillion global health and wellness industry is growing steadily at a rate of 5-10% per year, with the Indian market contributing at an exponential rate,” said Vinny Booji, Managing Partner of Left Lane Capital.
"Good Health Company's rapid growth rate over the past 18 months is evidence that the Indian population is thirsty for medical-grade, scientifically proven health and wellness products. Their D2C model, in which they provide health consultations free to patients, humbly addresses one of the greatest challenges in health care.
The last time the startup raised $5.2 million it was led by Khosla Ventures, with participation from Quiet Capital, W Health Ventures, the Weekend Fund and other angels. Since its inception, the company said, it has helped more than 10 million customers with a free consultation, treatment course and product delivery. It has entered multiple categories including hair care, skin care, sexual health, and weight loss.
Cindy said, "Our goal, from day one, has been to provide a scientifically proven solution to our customers' unmet healthcare needs. In recent months, we have been expanding product categories and providing informative content to raise awareness about men’s self-care needs."
Also Read: Bira 91 to acquire pub chain The Beer Cafe