[Funding alert] Cora Health raises Rs 4.6Cr in seed round led by IAN
Bengaluru-based startup Cora Health will use the funding to deepen its tech and engineering capabilities and expand the customer base on its platform.
Tuesday November 09, 2021,
2 min Read
, a Bengaluru-based nutrition and health foods marketplace, has raised Rs 4.6 crore in seed funding from Indian Angel Network (IAN). The round was led by angel investors Vishnuraj Kunjur, KRS Jamwal, and Ajay Upadhyaya.
Other investors who joined the round include Tholons Capital, Family Office of Apurva Parekh (Executive Director, Pidilite Industries Limited) and Kushagra Pant (MD, Nomura). Earlier this year, Cora Health had raised Rs 1.95 crore in a Pre-Seed round.
The startup plans to utilise the fresh funds to improve its tech and engineering capabilities that will help Cora Health in expanding its customer base and gaining a healthy share of the wallet of existing customers.
Snigdha Kumar, Co-founder of Cora Health said, “Health needs are individualistic, and therefore, at Cora, we are building a guided marketplace with the goal of simplifying healthy living. We are helping customers choose products that suit their Dietary preference, lifestyle and health goals.”
Further adding, Vishnuraj Kunjur, Lead Investor at IAN, said, “With the current lifestyle, consumption of healthy products which are naturally grown, made without preservatives are no longer an option, it’s a must for all. Cora Health has created a vertical commerce ecosystem where nutritionists, healthy producers, and customers interact on a platform. Customers buy day-to-day healthy products from the Cora marketplace.”
Cora Health was launched in 2020 with a vision to simplify the wellness journey of millions of Indians looking to improve their health through suitable dietary and lifestyle choices.
Formercolleagues Snigdha Kumar and Shrijit Venkatesh realised that an abundance of products and information leaves customers feeling overwhelmed.
This makes it more challenging for individuals to make the right health decisions every day. This is where Cora Health steps in. Having a pan-India presence, the brand leverages guidance and recommendations from a trusted online community to suggest the best-suited products for an individual.
“We are adding a new leaf in our journey by building our core team to reach 10 million users in the next three years. We are on track to grow our revenue by 3-4X by the next year. This fundraise will further enable us to achieve our goals as we envisage to be the front-runner in guided health and nutrition ecommerce,” Snigdha added.
In the coming months, Cora Health will launch its first version of an AI-based product recommendation chatbot to assist people in choosing the right products and how to use them.
Edited by Saheli Sen Gupta