Companies News
Venture capital firm Lightbox has made its first investment from its $200 million third fund. It has invested $4 million in Nua, a female wellness brand. Existing investor Kae Capital has also participated in this Series A funding round. Nua, operated by Lagom Labs, creates products and services revolved around women’s health and wellness.Currently, the firm makes sanitary pads and sells them online. After listening to hundreds of women, Nua co-founders Ravi Ramachandran and Swathi Kulkarni created a solution that is configured to a woman's individual cycle, delivered directly to her home, every month.
“I think in Nua, we found a team that has thought through how to create an amazing experience for women and do it in a manner that is delivering massively amazing value,” said Prashant Mehta, partner at Lightbox, in an interview.
With international brands like Whisper and Stayfree taking up the bulk of the market share in India, Nua is a newcomer in the space. But what differentiates the company is that it works on an innovative direct-to-consumer model where women are able to customise sanitary pad boxes based on their individual needs. It delivers the products to their doorstep on a subscription basis. The firm has also built a strong community of nearly 1 lakh women. Nua said it delivers the easy-to-store and dispose sanitary pads across the country, with tier 2 and tier 3 cities accounting for 50% of sales.
“If you think about fem-care, there are already companies at the high end of the spectrum, you can always get very high-end products, but this team (Nua) really felt that it was important to bring care and wellness ideas to millions of women and not just the top echelon of women group,” said Mehta of Lightbox--which has backed ventures such as tech company InMobi, Rebel Foods (Faasos) and online travel firm Cleartrip.
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