D2C (direct-to-consumer) healthtech startup Good Health Company (GHC), on October 12 said it raised $10 million in Series A funding led by Left Lane Capital. GHC’s existing investors Khosla Ventures, Quiet Capital and Weekend Fund also participated in this round.
The Hyderabad-based startup said in statement that it plans to use the funds to introduce more product categories, focus on product innovation and expand the existing team over the next few months.
Founded in January 2021 by Samarth Sindhi, GHC initially focused on the personal care market for men. The company now provides full-stack solutions for hair fall, sexual health, weight loss, skincare, and so on, for both male and female consumers delivered to their homes. GHC also recently launched Saturn by GHC for females, and the male vertical is now known as Mars by GHC.
“Our aim, right from the first day, was to provide a scientifically proven solution to the unmet healthcare care needs of our consumers. In the last few months, we have worked towards expanding the product categories and introducing informative content to raise awareness about men’s self-care needs,” said Sindhi.
The D2C startup also said that it provides free consultations and a course of treatment for any skin, hair, and sexual health problems for both men and women.
As per a Redseer report, India’s healthtech industry will likely touch $9-12 billion gross merchandise value (GMV) by 2025 and $40 billion GMV by 2040. GMV is the total value of sales over a certain time period.
“The global health and wellness industry is a $1.5 trillion market growing steadily at 5-10 percent every year, with the Indian market contributing to it at an exponentially increasing rate. Good Health Company’s rapid growth rate for these past 18 months is a testament to India’s population being hungry for scientifically proven, medical-grade health and wellness products. Their D2C model, in which they offer free health consultations to patients, humbly addresses one of the largest healthcare challenges,” said Vinny Pujji, managing partner at Left Lane Capital.In June 2022, GHC raised a seed round of $5.2 million led by Khosla Ventures.