[Funding alert] Cora Health raises undisclosed amount from angel investors
CORA Health, a Bengaluru-based health and wellness marketplace startup, has raised an undisclosed amount of funding.
The round was led by angels in their personal capacity including Apurva Parekh (Executive Director, Pidilite Industries Limited), KRS Jamwal (Executive Director, Tata Industries), along with Dhanpal Jhaveri (Vice Chairman, Everstone Group), Amit Chaudhary (Lenskart Founder), Kushagra Pant (Nomura MD), Neha Saraf (Visa Director), Anusuya Roy (Flipkart Director), Ajay Mian (Founder and CEO, All e Technologies), and Headstart Investor Circle.
Snigdha Kumar, Co-founder of CORA Health, said,
“We see ourselves as being synonymous with health and to be able to transform the pantry of 20 million households with healthier options by 2023. We will be using the funds to invest in technology, team hiring, and expansion of a network of experts and categories on the platform.”
CORA Health, founded by former Flipkart colleagues Snigdha Kumar and Shrijit Venkatesh, was launched in May 2020 and is a 100X.VC portfolio company. It offers an ecommerce platform that helps users get access to healthy food alternatives based on their medical condition.
Commenting on the announcement, Amit Chaudhary, Lenskart said,
“Shrijit and Snigdha approached me with their vision to transform the lives of millions struggling with health issues and unable to get the attention they need. Their take on a verticalised solve for the health & nutrition space is something I deeply believe in, having seen the power of vertical play up close myself. I believe this to be the next big thing in consumer tech, and with their background and obsession for their customers, they are poised to take this space and win.”
The company was launched with an initial investment of Rs 20 lakh. CORA Health raised its first cheque from 100X.VC as part of the fund’s Class 03 portfolio. Working with more than 10 courier partners to serve over 27,000 pin codes across India, the company is clocking 200 percent month-on-month growth, and is targeting a revenue of Rs 100 crore ARR by the end of 2022.
Ninad Karpe, Partner at 100X.VC, added,
“Health is a priority for everyone, and we are delighted to be the first institutional investor in Cora. With its unique offering and positioning, we firmly believe that CORA will be a game-changer in the burgeoning health and wellness space.”