Mylo, has raised $17 million in its Series B funding round. The fresh funding round was led by W Health Ventures, a Boston-based digital health investor, ITC, and Endiya Partners. The round saw participation from Riverwalk Holdings, Alteria Capital, and Innoven Capital as well.
Mylo, a full-stack platform for both expecting and new parents, was founded by Vinit Garg in the year 2018. Mylo is an online health checking tool and community platform for new and expecting mothers. Mothers on Mylo can track their baby’s internal womb development, they inherit more than 500 contents.
Mylo’s next best focus area is healthcare services. It has already advanced by providing doctor consultations with gynecologists and pediatricians, health packages for weight loss and PCOS, and other hospital recommendations for delivery and IVF procedures.
In the previous year, Mylo launched its own D2C Brands for Mothers and Babies in personal care, premium Ayurveda and daily essentials based on community feedback and its own R&D facility. Mylo has crafted over 100 unique products, and got rid of 7 Lakh units and shipped to more than 16000 pin codes.
EXECUTIVE OPINION:
“The investment will help us build the Mylo brand, scale our community, 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 #1 full-stack one-stop solution for mothers," said Vinit Garg, Founder and CEO, Mylo.
“It takes a village to raise a child and Mylo is providing this village to every mother and baby in the country through its platform”, said Dr. Pankaj Jethwani, Executive Vice President at W Health Ventures.
“In a fast-evolving healthcare and wellness consumption landscape in India, augmented by strong 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,” said Abhishek Srivastava of Endiya Partners.
