Hyderabad-based direct-to-consumer (D2C) startup Good Health Company has secured $10 million in Series A funding round, led by New York-based venture capital firm Left Lane Capital.
Existing investors including Khosla Ventures, Quiet Capital, and Weekend Fund also participated in this round.
Good Health Company plans to use the fresh capital to introduce more product categories, focus on product innovation and expand the existing team, it said in a statement on Wednesday.
The startup was founded in January 2021 by Samarth Sindhi. It provides solutions for patients with conditions like hair fall, sexual issues and weight loss, amongst others.
Good Health Company’s male vertical ‘Mars’ focused on the personal care market for men. The company recently launched ‘Saturn’ vertical focusing on products addressing female-related problems.
“The global health and wellness industry is a $1.5 trillion market growing steadily at 5-10% annually, with the Indian market contributing to it at an exponentially increasing rate,” said Vinny Pujji, managing partner at Left Lane Capital.
“Good Health Company’s rapid growth rate these past 18 months is testament that India’s population is hungry for scientifically proven, medical-grade health and wellness products. Their D2C model, in which they offer free health consultations to patients, humbly addresses one of the largest healthcare challenges.” he added.
The startup had last raised a $5.2 million round led by Khosla Ventures, with participation from Quiet Capital, W Health Ventures, Weekend Fund among other angels. Since its inception, the company said it has helped over 10 million customers in free consultation, course of treatment, and delivery of products. It has introduced multiple categories, including hair care, skin care, sexual health and weight loss.
“Our aim, right from the first day, was to provide a scientifically proven solution to the unmet healthcare care needs of our consumers,” said Sindhi. “In the last few months, we have worked towards expanding the product categories and introducing informative content to raise awareness about men’s self-care needs.”