Bold Care, a leading direct-to-consumer (D2C) men’s wellness brand, has raised ₹30 crore ($3.5 million) in a new funding round, bringing its total funding to over $6 million to date. The Mumbai-based startup, which provides men’s healthcare products focused on sexual wellness, hair care, and general health, plans to use the fresh capital to expand its market presence and product range.
Funding Details and Key Investors
The latest funding round includes 20 investors, with key participation from:
- Audacity Capital, LLC, leading the round with ₹5 crore ($600,000)
- Motherson Lease Solution Limited, contributing ₹3 crore ($360,000)
- CaratLane co-founders Mithun and Siddhartha Sacheti
- MGA Ventures LLP, Claris Capital Limited, Gruhas Collective Consumer Fund, NB Ventures Limited, and AngelList, among others.
The company’s board of directors approved the issuance of 2,881 Series VI CCPS shares at ₹1,03,824 per share, raising ₹29.91 crore ($3.5 million).
About Bold Care
Founded in 2019 by Rajat Jadhav, Harsh Singh, Mohit Yadav, and Rahul Krishnan, Bold Care focuses on breaking the stigma around men’s sexual health while offering science-backed solutions. The company operates primarily through a D2C model, selling via its website and third-party e-commerce platforms like Amazon and Flipkart.
In December 2022, Bollywood actor Ranveer Singh joined the company as an investor and co-founder, further amplifying its brand visibility.
Financial Performance
For the fiscal year ending March 2024 (FY24):
- Revenue grew 6.67%, reaching ₹32.9 crore ($4 million) from ₹30.9 crore ($3.7 million) in FY23
- Net losses increased by 21.46%, totaling ₹19.3 crore ($2.3 million)
Expansion and Competitive Landscape
Bold Care recently expanded into women’s wellness with the launch of Bloom, a brand catering to reproductive and intimate health needs. The company competes with other D2C sexual wellness brands such as:
Our Opinion on the News
Bold Care’s latest funding round is a strong indicator of growing investor confidence in India’s sexual wellness market, a sector that has traditionally faced societal stigma. The company’s celebrity-backed brand, strong D2C model, and recent foray into women’s wellness put it in a favorable position for continued expansion. However, its rising losses indicate a need for better cost management as it scales operations.
With sexual wellness becoming a mainstream consumer category, Bold Care is poised to capitalize on this shift, but it will need to balance growth with profitability to sustain long-term success.