The round was led by angel investors Vishnuraj Kunjur, KRS Jamwal and Ajay Upadhyaya.
Cora Health, a Bengaluru-based nutrition and health foods marketplace, has raised INR 4.6 crore seed funding from Indian Angel Network (IAN). The round was led by angel investors Vishnuraj Kunjur, KRS Jamwal and Ajay Upadhyaya.
Other investors who joined the round include Tholons Capital, Family Office of Dr. Apurva Parekh (Executive Director, Pidilite Industries Limited) and Kushagra Pant (MD, Nomura). Earlier this year, Cora Health had raised INR 1.95 crore in a pre-seed round.
The startup plans to utilize the fresh funds to improve its tech and engineering capabilities that will help Cora Health in expanding its customer base and gaining a healthy share of the wallet of existing customers.
Cora Health was launched in 2020 with a vision to simplify the wellness journey of millions of Indians looking to improve their health through suitable dietary and lifestyle choices. Former Flipkart colleagues Snigdha Kumar and Shrijit Venkatesh realized that an abundance of products and information leaves customers feeling overwhelmed. This makes it more challenging for individuals to make the right health decisions every day. This is where Cora Health steps in. Having a pan-India presence, the brand leverages guidance and recommendations from a trusted online community to suggest the best-suited products for an individual.
Speaking on the development, Snigdha Kumar, Co-Founder of Cora Health said, “Health needs are individualistic, and therefore, at Cora, we are building a guided marketplace with the goal of simplifying healthy living. We are helping customers choose products that suit their Dietary preference, lifestyle and health goals.
We are adding a new leaf in our journey by building our core team to reach 10 million users in the next three years. We are on track to grow our revenue by 3-4x by the next year. This fundraise will further enable us to achieve our goals as we envisage to be the front-runner in guided health and nutrition e-commerce.”
In the coming months, Cora Health will launch its first version of AI-based product recommendation chatbot to assist people in choosing the right products and how to use them.
Further adding, Vishnuraj Kunjur, Lead Investor at IAN said, “With the current Lifestyle, consumption of healthy products which are naturally grown, made without preservatives are no longer an option, it’s a must for all. Cora Health has created a Vertical commerce ecosystem where Nutritionists, Healthy producers, and customers interact on a platform. Customers buy day-to-day healthy products from the Cora marketplace.
Cora Health does a rigorous quality check before onboarding the Product Vendors and Nutritionists, thus assuring the customers getting the safe and quality products for less. Cora also provides insights, recommendations through their strong Analytics capability for personalized product pick and has an efficient rewards, Loyalty program. Cora Founders Snigdha and Shrijit carry great expertise in this field and have worked for world’s largest retail platform and set up the organic products vertical for them in the past. We at IAN are excited to partner/mentor in Cora Health’s growth journey.”
Within one year, Cora Health has finalized key positions across verticals, including engineering, business development, growth, and nutrition experts who will further lead the startup’s journey towards becoming a major player in the health and nutrition space.
Source: Business World