Total amount raised
$25.5 Million
Latest funding date
07/01/2024
Location
Mylo has successfully raised funding over five rounds, with the latest being a Series B round. The company is backed by eight investors, including Endiya Partners and W Health Ventures.
Keep reading to explore the intricacies of Mylo's fundraising journey and the investors backing this innovative platform.
What Is Mylo?
Mylo is a private company based in Gurgaon, Haryana, India, that operates in various industry categories including Baby, Health Care, Internet, Mobile, Parenting, and Wellness. The company helps young parents raise happy and healthy families by being a trusted companion throughout their parenting journey.
With a workforce of 101-250 employees, Mylo offers a wide range of products for babies, moms, and pregnancy essentials through its online store. The company also provides a community platform and a mobile app to support and inform parents.
How Much Funding Has Mylo Raised?
- Seed Round
- Amount Raised: USD 750,000
- Date: November 2018
- Lead Investors: Fosun RZ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop its initial product offerings.
- Series A Round
- Amount Raised: USD 1,250,000
- Date: March 2020
- Lead Investors: Fosun RZ Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product line and enhance the community platform.
- Series A Round
- Amount Raised: USD 4,500,000
- Date: March 2020
- Lead Investors: Xiaomi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market reach.
- Series B Round
- Amount Raised: USD 17,000,000
- Date: April 2022
- Lead Investors: Endiya Partners, ITC, W Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform further and launch new product verticals.
- Series B Round
- Amount Raised: USD 2,040,000
- Date: July 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market presence and product offerings.
Total Amount Raised: USD 25,540,000. Current Valuation: Not publicly disclosed.
Key Investors
- Endiya Partners
- Details: Endiya Partners is a venture capital firm that invests in early-stage startups. They participated in Mylo's Series B funding round.
- Investment Focus Areas: Technology, Healthcare, Consumer.
- Notable Investments: SigTuple, Darwinbox, Kissht.
- W Health Ventures
- Details: W Health Ventures is a Boston-based digital health investor. They led Mylo's Series B funding round.
- Investment Focus Areas: Digital Health, Healthcare, Technology.
- Notable Investments: Not publicly disclosed.
- ITC
- Details: ITC Limited is a diversified conglomerate with interests in FMCG, hotels, paperboards, and packaging. They acquired a 10% stake in Mylo's parent company, Blupin Technologies.
- Investment Focus Areas: FMCG, Personal Care, Mother-and-Baby Care.
- Notable Investments: Mother Sparsh Baby Care Private Limited.
- Xiaomi
- Details: Xiaomi is a Chinese electronics company known for its smartphones and smart home devices. They participated in Mylo's Series A funding round.
- Investment Focus Areas: Consumer Electronics, Smart Home, Internet of Things (IoT).
- Notable Investments: Not publicly disclosed.
- Fosun RZ Capital
- Details: Fosun RZ Capital is a global venture capital firm that invests in technology-driven companies. They led Mylo's Seed and Series A funding rounds.
- Investment Focus Areas: Technology, Healthcare, Consumer.
- Notable Investments: Not publicly disclosed.
What's Next for Mylo?
Mylo stands at the cusp of significant growth opportunities, driven by its recent $17 million Series B funding. The company plans to expand its platform for expecting and new parents, enhance its technology offerings, and strengthen partnerships. With a market potential of $5 billion in India’s mom and baby segment, Mylo is poised to scale its operations and launch new product verticals, including digital health solutions for mothers.
Future fundraising opportunities appear promising as Mylo continues to demonstrate growth and high consumer engagement. The company’s successful Series B round suggests potential for further investment rounds to support its ambitious expansion plans. However, Mylo will need to navigate challenges such as competition from other digital health and parenting platforms, ensuring effective utilization of funds, and maintaining user engagement as it scales.
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