Indian health and wellness startup Bibo raises USD 150K in Pre-series round

Bibo, an India-based health and pharma products startup, has raised USD 150K in a Pre-series A funding round led by ah! Ventures on 31 January 2022.

Investors: Founded in 2009, ah! Ventures is an investment firm based in Maharashtra, India. The firm prefers to invest in companies operating in the semiconductor, technology service, resource optimisation technology, software, and technology manufacturing solution sectors.

The Objectives behind the funding: The company did not disclose how the funds would be utilised.

About Bibo

Founded in 2020 by Vikash Kumar, an ex-investment banker, Bibo provides respiratory wellness with a range of premium products catering to both acute and chronic needs. Bibo stands for Breathe In Breath Out. The startup’s products are natural with medicinal benefits, enabling children and adults to heal effectively and naturally from within and improve their immunity. The Bibo brand is owned by Hilt Brands India Private Limited, a fast-growing consumer healthcare products company with a global outlook. Hilt Brands has a team of healthcare professionals and has multiple globally recognised partners for product development and curation of wellness ideas. The company claims that all Bibo products are certified by Ayush Department and have valid quality certificates received from concerned authorities. The startup has adopted a Himalayan Yeti figure as its official mascot. The company offers a 100% satisfaction guarantee under which a customer can claim a full refund through email or WhatsApp in a few clicks.

What the Founder has to say:

“Having worked with several pharma entrepreneurs and CXOs and visiting around hundred pharma facilities, I could understand the vastness of the sector, which had been growing in double digits for over a decade. However, the whole trade is being run traditionally with conventional methods. Even after the evolution of e-pharmacies like Pharmeasy, 1mg etc., the key stakeholders and product mix remains the same,” said Vikash Kumar on how he started his journey.

What the Investors have to say:

“Specialised D2C brands have a long way to go. They would always deliver larger returns on ad spend as the basket size would be larger and bigger repeat orders from chronic users. Bibo has already demonstrated ability by achieving more than Rs 5000/- sales per repeat buyers while the average MRP stands ~Rs 110. This also ensures high profitability and valuations. We are excited to work with Bibo and look forward to working closely with them in coming months,” said Abhijeet Kumar, Co-Founder, ah! Ventures.

“India being largely under-branded in healthcare products space, I see strong potential in Bibo to launch premium and effective products and grow at a disproportionate pace compared to traditional companies. I liked the approach of Founder and key team, and decided to back them,” said Srikanth Iyengar, MD with large UK tech learning firm, previously a senior leader with Capgemini, Conduent and Infosys and also an angel investor in startups like Avni, WYSA.io and Oben etc.

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