Blupin Technologies Private Limited, which runs direct-to-consumer (D2C) mother and baby platform Mylo, on Thursday said it has secured $17 million (around Rs 129 crore) in a Series B round led by W Health Ventures, ITC Ltd and Endiya Partners.
The fundraise also saw participation from Riverwalk Holdings, Alteria Capital and Innoven Capital.
“The investment will help us build the Mylo brand, scale our community and products verticals and launch our digital health solutions for mothers.
We are thrilled to onboard investors who bring significant operational and healthcare expertise in our expansion areas that will help us build India's number one full-stack one-stop solution for mothers," said Vinit Garg, Founder and CEO, Mylo.
Founded in 2018 by Garg, Mylo started as an online health tool and community platform for new and expecting mothers.
Through its platform, mothers can track their baby’s development, get expert vetted content for over 500 topics and ask questions to other moms in a similar life stage.
Last year, Mylo launched its own D2C brands for mothers and babies across personal care, premium ayurveda and daily essentials.
Pankaj Jethwani, Executive Vice President at W Health Ventures added that Mylo provides a supportive community-led platform that helps solve critical problems that women face in their pregnancy and motherhood journeys.
Mylo claims that its app has over 10 lakh downloads on Google playstore, adding that over 300,000 new users have been joining the platform every month.
In 2020, the startup raised $4.5million (approximately Rs 34 crore) in its Series A funding round.
Mylo was advised by Dexter Capital in this round.