D2C platform Mylo nabs $17 million for advancing product portfolio

The platform can be used by new mothers to track their baby’s development, interact with other mothers for insights and gain access to expert content across 500 different topics

Mylo, a platform catering to expecting and new mothers, has recently generated funds worth $17 million via a funding round led by U.S. based digital health investor W Health Ventures, Endiya Partners, and ITC.

The round – which added to the total raised funding to reach $24 million by the platform - also involved other participants including Alteria Capital, Innoven Capital, and Riverwalk Holdings.

Speaking on the freshly secured capital, Vinit Garg, Founder and CEO of Mylo, stated that the investment will be dedicated to further development of the platform’s own brand, expanding the existing community as well as product portfolio, and ramping up digital health solutions for mothers.

Pankaj Jethwani, Executive Vice President at W Health Ventured, commented on the platform’s significance by addressing the enormous scale of tangible & intangible aspects required to raise a child – a core objective of Mylo’s platform in supporting every mother and baby in the country.  

According to Jethwani, the imploding mass adoption of the internet and e-commerce by the women of India is likely to provide a gigantic push to Mylo’s forthcoming growth, while the platform continues to scale up its offerings to impact millions of women and children in the country.

Backing Mylo makes perfect sense for W Health Ventures as it showcases reliance on state-of-the-art technology to offer a supportive community-led platform that essentially serves women in their pregnancy phase and in their motherhood journey with problem-solving solutions, as per Jethwani.

In 2021, Mylo launched its own D2C (Direct-to-Consumer) brands primarily focusing on the needs of babies and mothers based on the community feedback and insights from its own R&D facility, introducing products across daily essentials, premium Ayurveda, and personal care segments.

Source Credit: https://economictimes.indiatimes.com/tech/funding/mylo-raises-17-million-in-funding-led-by-w-health-ventures-itc-endiya-partners/articleshow/90980236.cms