Newmi Care, a health and wellness platform dedicated to women, has successfully raised $1.5 million (around Rs 12.6 crore) in a seed funding round. This funding round was led by Sprout Venture Partners and included participation from LetsVenture, Sarcha Advisors, Key Ventures Forum, and several angel investors.
With the newly raised funds, Newmi Care plans to expand its operations by building more women’s clinics in northern and western India. These clinics will focus on providing enhanced outpatient services, catering to the growing demand for women’s health services. Additionally, the company aims to invest in technological improvements and product innovations, while also expanding its team to support further growth.
What Does Newmi Care Do?
Founded in May 2022 by Aditi Mittal and Sanchit Agarwal, Newmi Care addresses various women’s health concerns. Their services cover areas such as menstrual health, sexual health, hormonal health, fertility, maternity, menopause, and cancers related to women’s reproductive organs. Over the past year, the startup has reportedly serviced more than 60,000 women across 400 cities in India.
Market Presence and Future Plans
Newmi Care has introduced women-centric outpatient department (OPD) insurance products, in collaboration with major insurance providers, to further improve healthcare accessibility for women. Currently, the company operates 10 clinics in the Delhi/NCR region and plans to significantly expand its footprint across India.
“We are on a mission to simplify outpatient care for women in India and bring women’s health to the forefront. This capital infusion is a step to move closer to solving women’s health issues at scale in India,” the founders said in a joint statement.
Investor and Market Opportunity
Sahil Gupta, a partner at Sprout Venture Partners, highlighted the market potential for women’s health services in India, noting the increasing demand and awareness among women about their health needs. “We see a clear opportunity in building a trusted brand in the women’s health lifecycle space. The next generation of women is more aware of their health, and this will be a large market in the future,” he said.
Rohit Chanana, a partner at Sarcha Advisors, also expressed his confidence in the Newmi Care team. “We are proud to back Sanchit and Aditi for building for a wonderful cause. My best wishes to the team in providing positive outcomes to all stakeholders,” he added.
