Blupin Technologies, which owns mother-and baby brand Mylo, raised $17 million in series B led by W Health Ventures, ITC Ltd, and Eindiya Partners. The funding round also saw participation from Riverwalk Holdings, Alteria Capital and Innoven Capital.
ITC acquired around 10 per cent stake in the Blupin to expand its presence in the mother-and baby care segment. ITC, in November 2021, announced investing in Mother Sparsh Baby Care Private Limited, an ayurvedic and natural personal care brand focused on mother and baby care.
Mylo has a content and community first approach that acts as a key differentiator for the brand. The model focuses on creating a wide range of useful content and digital health tools across different life stages of the expectant and young mothers, driving community conversions for its Mylo range of products and service.
With a Learn-Share-Buy philosophy, the brand has been able to drive high engagement amongst its users, leading to a strong conversion to purchase and high consumer retention. Till date, the platform has over 22 lakh questions and 1.6 crore answers along with over 3.7 crore content pieces that drive engagement.
“Within a short period of time, Mylo has demonstrated great potential in the evolving Content-to-Community-to-Commerce model by nurturing an online platform where people learn, share, trust and belong. The investment will provide ITC the opportunity to foray into this emerging space and become an integral part of the evolution of this area,” said Sameer Satpathy, chief executive officer for personal care products business, ITC Limited.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU