Mylo has gained $17 million in its Series B funding round led by W Health Ventures along with ITC, Endiya Partners, Riverwalk Holdings, Alteria Capital, and Innoven Capital.
Mylo was founded by Vinit Garg in 2018. The startup initially started as an online health and community platform for expecting mothers. Today it is a full-stack platform which offers mother’s to track their baby’s development, seek content on over 500 topics and connect with fellow mothers. Last year, Mylo launched its own D2C brand for baby products, Ayurvedic products and other essential products based on their research and community feedback.
Thye have sold over 7 lakh units in 16,000 pin codes across India. They have also started healthcare services. They offer consultations with gynaecologists and paediatricians. Along with this they also recommend hospitals for IVF procedures. They also offer health packages for PCOS and weight loss. They now plan to become a one-stop solution for all expecting and new mothers.
Mylo has so far raised $24 million. The current funds will be used by the venture to build its brand and scale up its product vertical. They had raised $750,000 as seed funds from Fosun RZ Capital. Fosun RZ Capital along with Xiaomi led the Series A round worth $4.5 million. The funding reflects the growing trend of new mothers relying on digital care during their pregnancy and for their newborns.