Facebook co-founder’s firm to back Indian sexual health startup

Eduardo Saverin, co-founder and partner of B Capital Group, poses for a photograph during the Bloomberg Sooner Than You Think technology summit in Singapore, on Thursday, Sept. 6, 2018. Facebook will weather the current public and regulatory scrutiny, Saverin said.

Indian health-tech startup Mojocare is close to raising about $20 million in a series A round led by B Capital Group, the venture capital firm set up by Facebook Inc. co-founder Eduardo Saverin and Raj Ganguly, according to people familiar with the matter.

Existing investors including Sequoia India, Chiratae Ventures and Better Capital are considering participating in the round, which could be announced as soon as Tuesday, the people said. The Bangalore-based company plans to use the proceeds to further expand and diversify its product portfolio, the people said, asking not to be identified because the matter is private.

Mojocare helps consumers address issues including reproductive health and fertility, hair care and weight loss through an online platform that includes product sales, consultations with doctors and customized treatment plans, according to its website.

Spokespeople for Mojocare and Sequoia India declined to comment, while representatives for B Capital, Chiratae and Better didn’t immediately respond to queries.

Founded in 2015 by Saverin and Ganguly, B Capital seeks to help startups gain scale and transform their industries, backing them from seed investments to a potential initial public offering, its website shows. It counts about $6.5 billion in assets under management and more than 125 portfolio companies.