How this D2C startup is helping find solutions to men’s wellness and sexual health issues
Rajat Jadhav and Rahul Krishnan launched an online pharmacy business in 2015 to focus on healthcare. Although it was one of the first startups in the space, they were unable to scale the platform. However, they made some interesting discoveries while running the business. The co-founders realized that 25% of their customers ordered sexual health products on the platform.
This led them to startwith their childhood friends Mohit Yadav and Harsh Singh in July 2020.
The Mumbai-based health and wellness startup tackles men’s health issues such as sexual health, hair care and daily nutrition. While the company was established in October 2019, the platform was officially launched in 2020.
“We saw the need for specialized D2C solutions in the healthcare industry for issues that are largely disorganized and overlooked by the legacy market. Bold Care has come together through our learnings and intention to create positive change in the largely untapped space of men’s sexual wellbeing,” Rajat said during an interaction with Your story.
What does this solve?
Rajat says: “Solutions to men’s health issues like erectile dysfunction, premature ejaculation or even hair loss have been largely disorganized and maintained by quacks and Unani practitioners where users get a silent solution that doesn’t work. never.”
That being said, the problem itself is experienced by over 100 million men in India, and this is a conservative estimate – in fact, this number is 3 times the total number of diabetic patients in India.
“Even with such a large population facing these issues, the issue is mostly treated as a ‘punchline’ to an air of the times joke,” he adds.
Platform users can find fast-acting and highly effective solutions for problems such as erectile dysfunction, premature ejaculation, etc., as well as science-based solutions for hair loss problems. , says Rajat.
Along with this, the startup offers a free consultation as well as a private Bold Care assistant to make the experience seamless and confusion-free for its users.
“We want to move away from expensive, non-working products in favor of genuine, affordable science-based solutions and access to experts. Consultations are with selected experts who have over 10 years of experience. These are provided free of charge to customers.
“Each user also has a private assistant, to help answer any questions they have, free follow-up consultations, refills, or just provide a safe space for our users to open up for the first time on these personal issues,” Rajat said. .
All of this travel is provided from the comfort of their own homes, discreetly and quickly. On average, the startup takes a day and a half for pan-India delivery of its products. Along with this, special care is taken in the packaging to ensure that the product remains anonymous.
“We stay away from the legacy approach of overly sexualized language and images in favor of a clean, mindful approach that allows our users to feel comfortable and safe when using our products,” says Rajat.
Friends for over 14 years, Rajat, Mohit, Rahul and Harsh were always in touch and often sent ideas back to each other for startups with a vision to start one day.
Prior to Bold Care, Rajat worked with growX companies and also worked on his own online pharmacy business. Mohit, a BITS Pilani graduateworks at Jio as Deep Learning Engineer. Rahul had worked with freshworks while Harsh had previously worked as a full stack developer at Ingram Microphone.
With a team of 26 members, Rahul (CMO) leads the marketing team, Harsh (COO) manages operations and finance, Mohit (CTO) manages technology and Rajat (CEO) plays a key role in strategy, growth and execution.
Bold Care Co-Founders
Rajat points out, “Although we are still a small team, everything from product development, marketing, operations, graphics, etc. is all handled internally to ensure that our user data is not shared. with third-party agencies.
Early traction and product range
With 20 SKUs across three verticals, Sexual Wellness, Hair Care, and Daily Nutrition, the startup claims to fulfill 900-1,000 orders per day across all platforms.
Besides its own website, the products are available on popular e-commerce marketplaces such as Amazon, Flipkart, Nykaa, CREDas well as e-pharmacies.
With product prices ranging from Rs 350 to Rs 750, the startup’s top-selling product across the board is its “Complete Endurance Pack” for premature ejaculation, followed by the Erectile Dysfunction Combo Kit.
“Since serving 100 customers in July 2020, we have grown rapidly over the past 18 months, growing to over 25,000 monthly users in January 2022,” says Rajat.
The YS design team
With a global customer base of over 250,000 users, the startup claims to have experienced monthly growth of 18% over the past six months. In terms of net operating rate, Bold Care has already crossed the Rs 1 crore MRR mark (in less than 18 months) and expects to maintain the high growth rate throughout the year.
Market Overview and Revenues
Sexual health and hair care are among the billion dollar categories in India, with nearly 100 million men facing these issues. In fact, India is called the “impotence capital of the world”.
Rajat says: “For us, the opportunities are immense. We envision Bold Care to be the go-to brand for all men’s health issues within the next three years. We have a unique model where we combine free access to best-in-class experts, holistic product offering (allopathic and natural) and private assistants to simplify issues around stigma.
In just 18 months, the startup, which competes with Man Matters and Misters, generated revenue of Rs 2.24 crore in FY21 and is on track to generate more than Rs 9 crore in during fiscal year 22.
“The rapid pull is a testament to the fact that we are solving a real problem faced by millions of Indian men, and that Bold Care is product-market fit,” he says.
Funding and way forward
The startup is backed by Incubator based on Gurugram Huddlewho has been advising Bold Care since its launch as part of Huddle’s diverse portfolio and tailored support functions to help grow promising startups.
The startup has raised a total of $3 million in funding over the past 20 months. The last round was a pre-Series A round in January 2022.
“We have an aggressive growth plan for the year, aiming to see over Rs 35 crore in revenue in FY23,” says Rajat.