Matrix Partners India has led an investment of $10 million in Mosaic Wellness, a startup that is in the early stages and plans to launch its operations in the D2C space creating digital only and consumer-centric brands. Joining Matrix Partners India in this investment round were Sequoia Capital and SAIF Partners apart from a number of prominent angel investors, such as Kunal Shah, Jitendra Gupta, Jaydeep Barman, Raj Dugar, Amit Lakhotia, Sahil Baruah, and Rohit Kapoor.
The promoters of Mosaic Wellness, Revant Bhate and Dhyanesh Shah, possess rich experience in the consumer brands space having had stints at Rebel Foods, Kstart, Eight Roads and McKinsey.
Talking about the venture, Co-founder & CEO, Revant said, â€śWe see a large opportunity to create solution-oriented consumer brands in a digital India, where businesses will now be built consumer-first rather than category-first. We are building an enterprise that aims to re-imagine a consumerâ€™s experience, right from product design to discovery to purchase to post-purchase engagement.â€ť
Mosaic Wellness claims it is seeing a huge opportunity to come up with what they call â€śsolution-oriented consumer brandsâ€ť. These would be different from the category-oriented brands that is the norm currently in vogue in the market.
From Matrix Partners Indiaâ€™s perspective, this is their fifth investment in the consumer brands sector. The promoters at Mosaic Wellness and the investors have put out separate statements, appreciating each other. While the promoters have thanked the investors for the confidence they have showed in their venture, the investors are hoping that with the kind of background the promoters have, they will be able to achieve their objectives.