New Delhi, March 10 -- Mosaic Wellness Pvt Ltd, the consumer health company behind brands such as Man Matters, Be Bodywise and Little Joys, is close to raising fresh capital from an asset management firm.
The company is set to secure Rs 200 crore ($21.7 million) in growth capital from 360 ONE, which manages around $11 billion across multiple asset classes. The round is likely to include both primary capital infusion as well as a secondary component, VCCircle has gathered.
Mosaic's existing investors include venture capital firms Elevation Capital, Peak XV Partners and Z47. The three VC firms hold a majority stake in the company, while founders Revant Bhate and Dhyanesh Shah, venture debt firm Alteria Capital, and a few angel investors own the remaining stake.
VCCircle could not determine the likely sellers in the secondary transaction.
Founded in 2019, Mosaic Wellness saw rapid growth the following year as the COVID-19 pandemic boosted demand for digital health consultations and wellness products. The company currently operates three digital platforms: Man Matters for men, Bodywise for women, and Little Joys for parents. These digital health clinics offer health and wellness content, medical consultations, and products across multiple therapeutic areas.
In 2021, the company had raised $24 million in a Series A funding round led by Peak XV in 2021, which valued Mosaic at around $135 million. In 2023, it raised funding from existing investors in a round that likely valued it at around $240 million, or nearly Rs 2,000 crore at the time.
Last year, VCCircle reported that the company was in talks with several growth-stage investment funds and private equity firms to raise $20-25 million in primary capital. In April, Mosaic raised $20 million from Think Investments, valuing it at about $400 million post-money, according to reports and corporate filings.
Mosaic Wellness' platform serves more than six million consumers annually across men's health, women's health and kids' nutrition. The company operates a repeat-driven digital model supported by proprietary formulations and an integrated consultation layer.
For the financial year ended March 2025, its consolidated revenue more than doubled to Rs 736 crore, while net loss narrowed to Rs 11 crore from Rs 38 crore in the previous year, according to VCCEdge, the data and research platform of VCCircle.
Published by HT Digital Content Services with permission from VC Circle.