This acquisition will come inside of a month of the Thrasio-style aggregator acquiring The Far better Household, a sustainable house treatment products maker.
“This marks the foray of GlobalBees in the femtech sector that was valued at more than $22.5 billion in 2020 and is envisioned to expand at a CAGR of 16.2% from 2021 to 2027,” the agency mentioned in a release.
“Women’s wellness has mostly been an unexplored marketplace, but andMe has been capable to deliver discussions about women’s health in the forefront, raising awareness about differentiated nutritional requires of gals not only in this region but throughout the globe,” claimed Nitin Agarwal, CEO of GlobalBees.
“We also want to accelerate the company’s product advancement pipeline to produce an totally new classification that focuses on the nourishment requires of women across the planet,” he included.
Femtech is expected to be a $65.3 billion industry by 2027, according to GlobalBees’ estimates.
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Released in 2017 by Ankur Goyal, andMe focusses on plant-primarily based, preservative-free of charge, chemical-absolutely free goods, which are with no extra sugar and support with women’s overall health challenges these as UTI, PCOS, menopause, thyroid to title a several. All around 70% of the company’s income appear from outside the prime five cities, which include little towns in eastern India, the release explained.
“Women’s bodies necessitate gender-specific innovation that responds to their organic realities. In the very last 4 decades, we have released 20+ females-centric nutrition items to solve from puberty to menopause,” mentioned Goyal, founder and CEO of andMe.
As component of the offer, the founders and more than 15-member andMe workforce will sign up for GlobalBees.
$150 million in personal debt and fairness it raised as aspect of its Collection A in July this year, GlobalBees, launched by FirstCry founders and Agarwal, is seeking to spend in 30-35 makes from several D2C types, together with speedy-going shopper products (FMCG), sports, home organisation, and lifestyle, among other people.
The aggregator model is finding up tempo in India. Such companies obtain lesser brand names in specialized niche types and help them scale by featuring experience across product or service streamlining, advertising and marketing, cataloguing, warehousing and distribution.
Corporations this sort of as Flipkart and Tiger Worldwide-backed
Goat Model Labs,
Mensa Manufacturers started off by former Myntra CEO, and
10Club are among the other organizations in the room.
Thrasio, the US-based business which pioneered the design, is
hunting to enter India and has manufactured its to start with acquisition right here with purchaser durables brand name Lifelong, ET claimed on Oct 4.