Facebook Co-Founder's VC Firm Leads $20M Funding Round For Indian Health-Tech Startup

Facebook Inc (NASDAQ: META) co-founder Eduardo Saverin and Raj Ganguly’s venture capital firm B Capital Group has led Series-A funding round for Indian health-tech start-up Mojocare which is close to raising about $20 million, reported Bloomberg, citing sources.

Existing investors Sequoia India, Chiratae Ventures, and Better Capital may participate in the round, which could be announced as early as Tuesday, the report said.

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Benzinga reached out to Mojocare but didn’t immediately get a response to its query.

The Firm: Mojocare plans to use the funds to expand and diversify its product portfolio, the report said. The firm helps consumers address issues concerning reproductive health and fertility, hair care, and weight loss through an online platform that includes product sales, consultations with doctors, and customized treatment plans.

B Capital Group: The venture capital firm stated in a blog its focus in India remains on partnering with emerging companies in Enterprise Software, Healthcare, Financial Services, Consumer Enablement, and Industrial & Transportation.