PH91 Pvt Ltd, the operator of ecommerce aggregator Powerhouse91, has acquired wellness firm Expertomind for an undisclosed amount, the company said in a statement on Monday.
With a combination of functional optimisations across marketing, supply chains and operations combined with significant growth capital, Powerhouse91 said it aims to expand Expertomind by 25 times over the next four to five years. By 2023, it expects the brand to grow ten times.
Founded by Abhinav Jain, Expertomind offers a range of wellness, pain management and home-medical equipment focused on the Indian market, and aims to improve a person’s medical conditions and general lifestyle, the statement said.
It claims to have 4.4+ star ratings and 4500+ customer ratings, with 30,000+ customers across India.
Abhinav Jain is a digital marketing expert with more than 10 years of experience. He has worked with companies like IndiaMart, London-based Grange Hotels and US-based Isave Marketing.
"Expertomind has an impressive background in a niche category with their highly-rated line of wellness products and their determined goal for better home healthcare solutions. Through Powerhouse91, they are set on the right track to expand and grow over 10x within 12-18 months.” Nikhil Agrawal, co-founder of Powerhouse91 said in a statement.
The acquisition marks Powerhouse91 third deal, and follows the company’s recently-concluded acquisition of sports and fitness brand Slovic.
Founded in 2021 by Shashwat Diesh and Aqib Mohammed, Powerhouse91 is the latest entrant to the Thrasio- style business model, which has drawn keen investor interest over the past few months.
Massachusetts-headquartered startup unicorn Thrasio acquires and scales brands to sell on ecommerce platforms.
In India, Mensa Brands founded by the former CEO of Myntra Ananth Narayanan, FirstCry-backed GlobalBees and Fireside-backed 10Club, are among others that have adopted a similar model.