Bold Care: Transforming Men’s Sexual Health and Wellness
Bold Care, a prominent brand in men’s sexual health and wellness, has successfully raised $5 million in a funding round that saw participation from notable investors such as Nithin Kamath’s Rainmatter, Mithun, and Siddhartha Sacheti, co-founders of CaratLane, along with the Dhanani family and AVT Group. In addition, Gruhas Collective Consumer Fund and NB Ventures also joined the funding effort. The details of the deal were exclusively reported by Startup Superb in December.
With the funds acquired, Bold Care aims to enhance its research and development (R&D) capabilities, expand its digital footprint, and create comprehensive sexual health solutions for both men and women, as outlined in their press release.
Bold Care: Co-founders and Product Range
Founded in 2020 by Rajat Jadhav, Rahul Krishnan, Harsh Singh, Mohit Yadav, and well-known actor Ranveer Singh, Bold Care offers solutions addressing issues like premature ejaculation (PE) and erectile dysfunction (ED). The brand also provides a selection of condoms and lubricants, claiming to have successfully processed over 30 lakh (3 million) orders to date.
Expansion into Women’s Wellness with Bloom
Recently, Bold Care has ventured into the niche of women’s wellness with the launch of Bloom, targeting various health concerns for women including sexual health, personal hygiene, menopause, menstrual care, and pregnancy.
Sales Channels and Market Reach
The Mumbai-based startup sells its products through its own website as well as through leading e-commerce platforms such as Amazon, Flipkart, Myntra, and Meesho. Customers can also find Bold Care products on quick commerce platforms.
Market Insights on Sexual Health
Research indicates that sexual health challenges impact roughly 90-95 million men across India.
Financial Performance and Competitive Landscape
For the fiscal year ending March 2024 (FY24), Bold Care recorded a 6.67% increase in revenue from operations, amounting to Rs 32.9 crore compared to Rs 30.90 crore in FY23. Nonetheless, the company faced a 21.46% rise in losses, which reached Rs 19.3 crore during the last fiscal year.
In the competitive landscape, Bold Care faces competition from other direct-to-consumer (D2C) sexual and wellness brands like Man Matters, Kindly, Sukham, Kapiva, and Sassiest, amongst others.