Mylo raises $17mn in series led by ITC, W Health Venture, Endiya Partners

ITC picks 10 per cent stake in company to expand its presence in the mother-and baby care segment

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.