Mumbai-based men’s sexual wellness startup Bold Care is preparing to raise ₹30 crore ($3.5 million) in a funding round, according to an exclusive report by Entrackr.
This development follows a significant milestone in December 2022, when actor Ranveer Singh joined the company as an investor and co-founder.
As per the report, the round will be led by Audacity Capital, LLC, which plans to contribute ₹5 crore, followed by Motherson Lease Solution Limited with ₹3 crore.
The company’s board has approved the issuance of 2,881 shares at ₹1,03,824 each, raising ₹29.91 crore from a group of 20 investors, including several prominent names.
About Bold Care
Founded in 2019 by Rajat Jadhav, Harsh Singh, Mohit Yadav, and Rahul Krishnan, Bold Care operates on a direct-to-consumer (D2C) model, offering products in categories such as hair care, performance enhancement, and general health.
The company recently expanded into the women’s wellness market with the launch of its brand Bloom.
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In FY24, the startup reported revenues of ₹32.9 crore, reflecting a 6.67% growth from ₹30.9 crore in FY23. However, losses rose by 21.46% to ₹19.3 crore during the same period. Bold Care has raised over $6 million to date, with the founding team retaining a 55% stake in the company as of the last funding round.
Bold Care faces stiff competition in the wellness space from other D2C brands like Man Matters, Kindly, Kapiva, Sukham, and Sassiest.
With the forthcoming funding, the brand aims to strengthen its market presence and expand its product range in the rapidly growing wellness sector.
