Mosaic Wellness raises $10 million, plans launch in 2020
Consumer brand Mosaic Wellness has raised $10 million (Rs 72 crore) from SAIF Partners, Sequoia Capital, and Matrix Partners India in its maiden funding round.
A host of angel investors like Kunal Shah, Jitendra Gupta, Jaydeep Barman, Raj Dugar, Amit Lakhotia, Sahil Barua, and Rohit Kapoor also participated in this round.
Mosaic Wellness will be using the funds to hire talent and develop new products, as it prepares to launch next year in India.
Commenting on the funding, co-founder and CEO, Revant Bhate, at Mosaic Wellness in a statement said: “We see a large opportunity to create solution-oriented consumer brands in a digital India, where businesses will now be built consumer-first rather than category-first.”
Dhyanesh Shah, co-founder added: “We are highly indebted by the confidence shown by SAIF, Sequoia, Matrix and our angel investors, and excited to have them as a part of our journey.”
Investors see huge potential in Mosaic Wellness and confident that the brand will perform in the Indian market.
Commenting on the investment, Mukul Arora managing director at SAIF Partners said: “Revant and Dhyanesh have excelled in their respective careers as operators and investors. We found both of them to be very complementary and strongly customer-obsessed. We find their vision of creating solution-oriented consumer brands to be unique and exciting and are thrilled to partner with them on this journey.”
With this investment, Mukul Arora, along with GV Ravishankar from Sequoia and Avnish Bajaj from Matrix, will also be a part of the board of Mosaic Wellness.
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