This marks the foray of Globalbees in the femtech sector that was valued at over USD 22.5 billion in 2020 and is expected to grow at a CAGR of 16.2% from 2021 to 2027.
Within a month of acquiring The Better Home, GlobalBees – an aggregator of digital brands, today announced its second acquisition, andMe – a women’s first, research-led company serving unique needs of women across menstrual health, hormonal health, beauty and fitness. This marks the foray of Globalbees in the femtech sector that was valued at over USD 22.5 billion in 2020 and is expected to grow at a CAGR of 16.2% from 2021 to 2027.
Speaking on the decision to acquire andMe, Nitin Agarwal, CEO of GlobalBees, said, “Women’s health has largely been an unexplored market, but andMe has been able to bring discussions around women’s health in the forefront, raising awareness about differentiated nutritional needs of women not only in this country but across the world. We look forward not just to bring scale to the impressive product portfolio of the company but also lead their social mission forward.”
“We also want to accelerate the company’s product development pipeline to create an entirely new category that focuses on the nutrition needs of women across the world,” he added.
Femtech — which first came to light in 2016 — is at an inflection point on the path to become a $65.3 Billion industry by 2027. At present, the femtech industry isn’t just bettering women’s lives with innovative services and products; they are also busting age-old beliefs and customs related to menstruation, fertility, and women’s diseases.
andMe was launched in the year 2017, and since then, andMe’s focus has been to be a companion to women throughout the multiple stages they go through in their lives. andMe’s plant-based, preservative-free, chemical-free products are with no added sugar and help with women’s health issues such as UTI, PCOS, Menopause, Thyroid to name a few. With a unique offering of combining Ayurveda and Nutrition together, the company’s products have created a significant impact by making women’s health mainstream. Around 70% of the company’s sales come from outside the top 5 cities, including small towns in eastern India, pointing to universal demand for their products.
“Women’s bodies necessitate gender-specific innovation that responds to their biological realities.
Back in 2017, when I launched andMe, almost all nutritional products in the market were formulated keeping “Men” in mind. In the last 4 years we have launched 20+ women-centric nutrition products to solve from Puberty to Menopause. Our brand traction in tier 2 and tier 3 is a powerful testimony to the efficacy of our products and the impact that we have created in the lives of millions of women.” said Ankur Goyal, Founder & CEO andMe.
The founders and 15+member andMe team will become a part of the GlobalBees family, continue to strengthen its product portfolio and focus on reaching broader women communities both in India and globally.
GlobalBees has offices in Delhi and Bangalore. The company has developed assets and expertise in marketing, technology, logistics, and product innovation. GlobalBees recently raised $150 million in a mix of equity and debt in a Series-A funding round led by FirstCry. Going forward, GlobalBees is looking to associate with 30 to 35 brands from various D2C categories, including fast-moving consumer goods (FMCG), sports, home organisation, and lifestyle, among others.
Source: Business World