After home care, GlobalBees forays into femtech sector; acquires andMe
Delhi-based, an aggregator of digital brands, announced that it acquired Bengaluru-based , a women-first research-led company aimed at serving needs across menstrual health, hormonal health, beauty, and fitness.
This marks GlobalBees’ second acquisition and entry into the femtech sector. Prior to this, in August, it acquired sustainable home care products company The Better Home.
Founded in 2017 by Ankur Goyal, andMe’s offers plant-based, preservative-free, and chemical-free products to help women deal with health issues such as UTI, PCOS, Menopause, and Thyroid among others.
According to the official statement, the andMe team and Ankur will join theteam to further strengthen its product portfolio and focus on reaching broader women communities both in India and across the globe.
“Women’s bodies necessitate gender-specific innovation that responds to their biological realities. Back in 2017, when I launched andMe, almost all nutritional products in the market were formulated keeping 'men' in mind. In the last four years, we have launched 20+ women-centric nutrition products, to solve from puberty to menopause. Our brand traction in Tier-II and III cities is a powerful testimony to the efficacy of our products and the impact that we have created in the lives of millions of women," Ankur said in a statement.
GlobalBees, founded in 2021 by Supam Maheshwari and Nitin Agarwal, acquires digital brands and is aimed at transforming the marketplace sellers into international brands.
With offices in Delhi and Bengaluru, GlobalBees is looking to work with 30 to 35 brands from various D2C categories including fast-moving consumer goods (FMCG), sports, home organisation, and lifestyle, among others.
Speaking about the development, Nitin Agarwal, CEO of GlobalBees, said that with this deal, GlobalBees is aimed at accelerating andMe’s product development pipeline.
“Women's health has largely been an unexplored market, but andMe has been able to bring discussions around women's health to the forefront, raising awareness about differentiated nutritional needs of women not only in this country but across the world. We look forward not just to bring scale to the impressive product portfolio of the company but also lead their social mission forward. We also want to accelerate the company’s product development pipeline to create an entirely new category that focuses on the nutrition needs of women across the world,” Nitin said.
The acquisition developments come in after GlobalBees raised $150 million in its Series A round funding round led by FirstCry in July. The round also saw participation from Lightspeed India Partners and Chiratae Ventures, among others.
GlobalBees is aimed at growing its portfolio to include at least 30 brands by 2022.
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