[The F-word] Riteish and Genelia Deshmukh invest in homeopathy startup Welcomecure
Homeopathy startup Welcomecure will use the funds to work on a strong customer engagement plan, provide a seamless experience to users, and strengthen infrastructure.
Mumbai-based homeopathy startup Welcomecure has raised funding of an undisclosed amount from Indian film couple Riteish and Genelia Deshmukh. The round also saw participation from LC Singh, former VP of TCS and current Vice-Chairman and CEO of Nihilent Technologies.
Speaking about his investment, Riteish said in a press statement, “I am glad to be a part of Welcomecure's growth. My wife and I strongly believe in homeopathic solutions and implement them in our family. Being a part of the Welcomecure family in terms of a business and the brand was an easy decision for Genelia and me. We hope that our association with the brand helps its further growth.”
With this round of funding, the healthtech platform aims to build a strong customer engagement plan. The funding will also be used to strengthen infrastructure, provide a seamless experience to users, and maintain the brand's positioning as the ultimate destination and holistic platform for homeopathy healthcare solutions.
Welcomecure aims to raise a total of $5 million. Punit Desai, Co-founder and CEO of Welcomecure, believes there is growing adoption and success of homeopathy on a global level. He says, "It is safe to say that Welcomecure has grown exponentially with the growth of the sector, and its success can be attributed to our unique offering, where we bring the best caregivers and experts in homeopathic medicine across the globe under one roof for our patients. One of the key aspects of our offerings includes ensuring a seamless interaction between doctors and patients, and we hold that in the highest regard. To ensure that we maintain that, the funds raised will be focused on offering technology and service upgrades.”
The team claims to have a reach across over 36 countries and says it conducts over 4,500 consultations per day. The platform helps users patients with unlimited voice, video, and text consultations. It also provides patients with unlimited and free supply of homeopathy medicines along with doorstep delivery of the medicines, dietary advice, and maintenance of patient records on cloud servers.
Punit added, “With their contribution in this this round, Bollywood power couple Riteish and Genelia will also endorse the service as they become the brand ambassadors of the healthtech platform. The couple’s belief in this form of medicine and their efforts towards expanding awareness regarding our brand and the space will help extend our services to more patients in need.”
According to Smithsonian, alternative medicine industry is a $34 billion market. Some of the global companies in the alternative medicine and therapies space includes Wright Health Group Ltd., Sandoz International, Biocon Ltd, Dr. Reddy’s Laboratories Ltd, Arya Vaidya Pharmacy, Cipla, and Weleda (UK) Ltd.