Homegrown full-stack gut wellness brand, Lifechart, has successfully raised $500,000 in its latest funding round. This investment is led by Prajay Advisors LLP and includes contributions from several
Homegrown full-stack gut wellness brand, Lifechart, has successfully raised $500,000 in its latest funding round. This investment is led by Prajay Advisors LLP and includes contributions from several notable investors.
The $500,000 raised saw significant backing, with Prajay Advisors LLP investing $250,000. The deal was guided by Cignas from NA Shah Advisors LLP as the transaction advisor. The remaining funds came from Agility Ventures, Expert Dojo, and a host of angel investors, including:
Interestingly, this round utilized convertible instruments, which means these investments can convert into equity in the future. Lifechart had previously secured $200,000 in a pre-seed round from Expert Dojo and Nitish Mittersain in 2022.
With this new funding, Lifechart is set to expand its AI-driven diagnostic capabilities and introduce proprietary solutions aimed at improving gut health. The startup’s mission is to tackle the rising gut health issues in India, offering products crafted by qualified doctors specializing in Ayurvedic and Homeopathic Medicine.
Lifechart is dedicated to providing:
Mukul Shah, CEO and Co-founder of Lifechart, expressed pride in attracting major investors during a challenging funding environment. “The new capital will enhance our AI capabilities, launch proprietary diagnostic solutions, and build a new brand targeting Tier 1 cities,” he stated.
Lifechart is not just stopping at product offerings; they aim to expand their reach, particularly into tier II, III, and IV cities. With over 250,000 customers impacted so far, the startup plans to hire 50 BAMS and BHMS doctors to improve its service quality.
One of the exciting initiatives is the development of India’s first gut wellness clinics and supermarkets. The goal is to open 150 clinics in the next three years, providing comprehensive infrastructure for gut health diagnostics and treatment across both urban and rural areas.
“Our vision is not just to sell products but to focus on diagnosing and treating gut health issues, which is a critical unmet need in India,” Shah emphasized. This commitment to patient care distinguishes Lifechart from its competitors.
Currently, Lifechart is in discussions to raise an additional $1 to $2 million from a venture capital firm based in Delhi NCR. This additional funding will support their expansion into tier-1 cities with a new product line and clinic developments.
The global gut health market is projected to reach a staggering $18 billion by 2025-26. With its innovative diagnostic and treatment solutions, Lifechart is positioning itself to capture a significant portion of this growing market.
Prakash Mody, Founder of Unichem Laboratory, and Jayendra Shah, Founders of Prajay LLP, expressed their enthusiasm, stating, “Gut health is a growing concern not only in India but throughout the world. We are excited about Lifechart’s unique technology and full-stack approach to solving this issue. We have full confidence in Mukul’s vision and execution abilities.”
With its recent funding, ambitious expansion plans, and a commitment to improving gut health, Lifechart is setting the stage for significant impact in the wellness industry. As they develop innovative solutions and grow their presence, it’s clear that they are on a path to make a meaningful difference in the lives of many.
