Total amount raised
$25.5 Millions
Latest funding date
Location
Mylo has successfully raised funds through multiple rounds, including $2,040,000 in Series B from Endiya Partners and others, $17,000,000 in Series B from Alteria Capital and others, and $4,500,000 in Series A from Xiaomi. The company has garnered support from a total of 8 investors, including 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, founded in 2018 by Vinit Garg, is based in Gurgaon, Haryana, India. The company focuses on helping young parents raise happy and healthy families by providing essential products and resources. With a team of 101-250 employees, Mylo offers a wide range of products including maternity wear, personal care items, and baby essentials.
How Much Funding Has Mylo Raised?
- Seed Round
- Amount Raised: $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
- Amount Raised: $1,300,000
- 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 platform's capabilities.
- Series A
- Amount Raised: $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
- Amount Raised: $17,000,000
- Date: April 2022
- Lead Investors: W Health Ventures, ITC, Endiya Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform, develop new product verticals, and launch digital health solutions for mothers.
- Series B
- Amount Raised: $2,040,000
- Date: July 2024
- Lead Investors: Endiya Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance product offerings.
Total Amount Raised: $25,590,000. Current Valuation: Not publicly disclosed.
Key Investors
- Endiya Partners
- Details: Endiya Partners is a venture capital firm based in India. They focus on early-stage investments in technology, healthcare, and consumer sectors.
- Investment Focus Areas: Technology, healthcare, consumer sectors
- Notable Investments: Not publicly disclosed
- ITC
- Details: ITC is a diversified conglomerate in India with interests in FMCG, hotels, paperboards, packaging, agri-business, and information technology. They have a significant presence in the mother and baby care segment.
- Investment Focus Areas: FMCG, hotels, paperboards, packaging, agri-business, information technology
- Notable Investments: Mother Sparsh Baby Care Private Limited
- W Health Ventures
- Details: W Health Ventures is a Boston-based digital health investor. They focus on leveraging technology to solve critical problems in healthcare.
- Investment Focus Areas: Digital health, healthcare technology
- Notable Investments: Not publicly disclosed
- Xiaomi
- Details: Xiaomi is a Chinese multinational electronics company. They are known for their smartphones, mobile apps, laptops, and related consumer electronics.
- Investment Focus Areas: Consumer electronics, smartphones, mobile apps
- Notable Investments: Not publicly disclosed
- Fosun RZ Capital
- Details: Fosun RZ Capital is a global venture capital firm. They invest in various sectors including technology, healthcare, and consumer products.
- Investment Focus Areas: Technology, healthcare, consumer products
- 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, scale its technology, and strengthen partnerships. With a $5 billion market in India and only 15% penetration, the potential for growth is immense.
Future fundraising opportunities seem promising as Mylo continues to scale and expand into new verticals, such as healthcare services for mothers. The company’s ability to attract investors interested in the growing mom and baby care market will be crucial. However, challenges like competition from established brands and maintaining product quality as they scale could pose hurdles.
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