Gurugram, India-based startup for expecting and new mothers Mylo, raised USD 17 million in Series B funding. The round took place on April 21, 2022. The U.S-based digital health investor W Health Ventures, ITC and Endiya Partners led the funding for Mylo. Riverwalk Holdings, Alteria Capital and Innoven Capital also invested in the platform.

So far, the pregnancy and parenting startup has raised USD 24 million. 

Purpose of Funding for Mylo

The startup wants to use the fresh capital for brand creation. Besides, Mylo will scale its community platform and add more product verticals. Meanwhile, the company will launch digital health solutions for mothers. 

Mylo’s vision is to create a one-stop solution for mothers. The startup’s key focus area is healthcare services. It has already made headway in the field by providing doctor consultations with gynaecologists and paediatricians, health packages for weight loss and PCOS, and hospital recommendations for delivery and IVF procedures.

Earlier in 2021, the startup launched its own D2C Brands for Mothers and Babies. It deals in personal care, premium Ayurveda and daily essentials. The brand launched was based on community feedback and its R&D facility.

What the founder has to say

“The investment will help us build the Mylo brand, scale our community and products verticals and also launch our digital health solutions for mothers. We are thrilled to onboard investors who bring significant operational and healthcare expertise in our expansion areas to help us build India’s #1 full-stack one-stop solution for mothers,” said Vinit Garg, Founder and CEO of Mylo. 

What the investors have to say

“It takes a village to raise a child, and Mylo provides this village to every mother and baby in the country through its platform”, said Dr Pankaj Jethwani, Executive Vice President at W Health Ventures. 

“Mylo leverages technology to provide a supportive community-led platform that helps solve critical problems that women face in their pregnancy and motherhood journeys. We believe the tremendous adoption of the internet and eCommerce among Indian women will be a catalyst for Mylo’s growth,” he further added.

In addition, Abhishek Srivastava of Endiya Partners, said, “In a fast-evolving healthcare and wellness consumption landscape in India, augmented by solid tailwinds including improved digital payments infrastructure, better logistics, and deepening consumer base (from Tier II and Tier III) embracing e-commerce, Mother and Baby Healthcare remains the top draw.”

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Jasleen Bhatia works as a content writer for VCBay News. She is pursuing her final semester in Bachelor of Business Administration from IIPS, DAVV. Driven by her keen interest in entrepreneurship and finance, she writes business-related articles.

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