Mosaic Wellness posted revenue from operations of INR 333.32 Cr in FY24 as against INR INR 206.20 Cr in FY23
The healthtech startup’s net loss declined 38% to INR 38.78 Cr in FY24 from INR 62.19 Cr in the previous fiscal year
Mosaic Wellness runs digital health platforms Man Matters, Be Bodywise and Little Joys, offering products and services for men, women and children, respectively
Health and wellness startup Mosaic Wellness saw its consolidated operating revenue zoom 60% to cross the INR 300 Cr mark in the financial year 2023-24 (FY24). It posted revenue from operations of INR 333.32 Cr during the year under review as against INR INR 206.20 Cr in FY23.
Besides, improvement in margins led to its loss declining 38% to INR 38.78 Cr in FY24 from INR 62.19 Cr in the previous fiscal year.
Founded by Revant Bhate and Dhyanesh Shah in 2020, Mosaic Wellness runs digital health platforms Man Matters, Be Bodywise and Little Joys, offering products and services for men, women and children, respectively.
The platforms offer telemedicine consultation services, supplements, and other wellness products.
Mosaic Wellness earns most of its revenue through the sale of nutritional supplements, medicines, and other wellness products. In FY24, it generated a revenue of INR 332.4 Cr from the sale of its products as against INR 205.7 Cr in the last financial year.
Including other income of INR 8.37 Cr, total income stood at INR 341.69 Cr in FY24.
The Mumbai-based startup claims to help over 2.5 Mn men with diagnoses and treatments, more than 4 Mn women by giving personalised solutions every year, and over 2 Mn parents through its platform for kids’ health.
The startup has raised a total funding of $35.25 Mn to date and counts the likes of Peak XV Partners, Elevation Capital and Matrix Partners India among its investors.
It last raised $24 Mn in its Series A funding round led by Peak XV (then Sequoia Capital India) in 2021.
Where Did Mosaic Wellness Spend in FY24?
The startup’s total expenses rose at a lower pace than the increase in its top line. Expenses zoomed 38% to INR 380.47 Cr in FY24 from INR 275.80 Cr in the previous fiscal year.
Purchase Of Stock-In-Trade: The startup’s spending under this rose 51.8% to INR 102.6 Cr in FY24 from INR 67.6 Cr it spent in FY23.
Employee Benefits Expenses: Mosaic spent INR 51.86 Cr on its employees in the fiscal, up 32% from the INR 39.21 Cr it spent on its employees in FY23.
Advertising Promotional Expenses: The startup spent INR 138.09 Cr on advertising and marketing in FY24, up 38% from INR 99.89 Cr in the previous year.
