Mosaic Wellness Secures $20 Million Funding to Drive Growth

Mosaic Wellness Secures $20 Million Funding

Mosaic Wellness, the parent firm of popular brands Man Matters, Boywise, and Little Joys, has successfully raised Rs 175 crore (approximately $20 million) in a funding round led by Think Investment. This funding will aid in the company’s expansion efforts and enhance its service offerings.

The company’s board approved a special resolution to issue 16,279 compulsory convertible preference shares at an issue price of Rs 1,07,500 each. According to regulatory filings, the funds will be used for growth, expansion, and general corporate purposes.

Following this funding round, Mosaic Wellness has been valued at approximately $400 million post-allotment, with Think Investment now holding 5.04% of the company. Founded in 2020 by Revant Bhate and Dhyanesh Shah, Mosaic Wellness has raised over $65 million to date, including a $24 million Series A funding round in 2021.

The company reported significant growth, achieving a 61.7% year-on-year revenue increase to Rs 333 crore for the fiscal year ending March 2024. They also managed to reduce their losses by 37.1% to Rs 39 crore during the same period.