SUMMARY
- Sprout Venture Partners led a $1.5 million seed round for Newmi Care to expand its women’s health clinics in India.
- Newmi Care will use the funds to grow its services and technology for women’s health.
- The founders aim to transform outpatient care for women in India with new investor support.
Sprout Venture Partners led a seed fundraising round that secured USD 1.5 million for Newmi Care, an outpatient care platform and clinics focused on women’s health and wellness. Key Ventures Forum, LetsVenture, Sarcha Advisors, a renowned family office, and notable Angels were also involved in the round.
The funds will be used by Newmi Care to establish its women’s clinics throughout North and West India, improve product and technological innovation, and grow its workforce. More than 60,000 women in 400 Indian cities have received care from the company since its founding in May 2022.
The Startup addresses a variety of health issues, including menstruation, sexual and hormonal health, fertility and motherhood, menopause, and cancers of the female reproductive organs. The firm has introduced several industry-first solutions, such as OPD insurance packages tailored specifically for women, in collaboration with top insurers. Ten Newmi clinics in Delhi/NCR are now open.
Founders of Newmi Care, Sanchit, and Aditi stated, “We are on a mission to simplify outpatient care for women in India and bring women’s health to the forefront. This capital infusion is a step to move closer to our path to solve for women’s health at scale in India. We are thrilled to have the support of Sprout and other partners, which will help us take the next big steps toward achieving our mission.”
Sahil Gupta, partner at Sprout Venture said, “We see a clear opportunity in building a trusted brand in the women’s health lifecycle space. We have seen this play out in some of the other healthcare categories. This will be a large market in the future with the growing awareness of health lifecycle amongst the next generation of women. The company is looking to solve this problem with its unique omnichannel approach and innovative product offerings. Sanchit and Aditi are a great team to execute this, and we are excited to back them in this journey.”
“We are proud to back Sanchit and Aditi for building for a wonderful cause. My best wishes to the team in providing positive outcomes to all stakeholders,” stated Rohit Chanana, Partner at Sarcha Advisors.
