Innovcare Lifesciences Pvt. Ltd.
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Innovcare Lifesciences Pvt. Ltd. - overview
Established
2014
Location
Mumbai, Maharashtra, India
Primary Industry
Food
About
Innovcare Lifesciences Pvt. Ltd. is a Mumbai-based company specializing in the marketing and distribution of nutraceutical and functional food products aimed at enhancing health and addressing lifestyle disorders. Founded in 2014 in Mumbai, India, Innovcare Lifesciences Pvt.
Ltd. focuses on healthcare solutions with a particular emphasis on nutraceuticals. The company has executed 6 deals to date, and its most recent funding round occurred on October 7, 2021, during which it raised INR 150 million in a Series D round led by JM Financial Limited. The company has achieved a total amount raised of INR 150 million, resulting in a current valuation of INR 1,932.
484 million. Innovcare specializes in the marketing and distribution of nutraceutical and functional food products designed to enhance human health and address lifestyle-related disorders. Its core offerings include formulations for bone and joint health, women's health, general health, and sexual health, catering to a wide client base that includes healthcare practitioners and end consumers. The company’s products are developed through proprietary research in Phytomedicine, ensuring efficacy and safety as it aims to reach over 36,000 healthcare practitioners across India and expand into international markets.
In 2023, Innovcare reported a revenue of INR 8,897,614. 30, with an EBITDA of INR 439,198. 40, reflecting a revenue model driven by direct sales and partnerships with healthcare practitioners and retailers in the nutraceutical market. The company aims to achieve sales revenue of at least USD 20 million in the upcoming years through various distribution channels, including collaborations with physicians and wholesalers, while maintaining a focus on quality testing for its products.
Innovcare Lifesciences plans to launch new products designed for specific health needs in the upcoming years, while targeting expansion into additional international markets to increase its global footprint. The recent Series D funding of INR 150 million will be strategically utilized to support these product launches and market expansions, enhancing the company’s capabilities to effectively reach a growing consumer base.
Current Investors
Sequoia, Kae Capital, Kalysta Capital
Primary Industry
Food
Sub Industries
Health Foods & Nutritional Supplements
Website
www.innovcare.in
Company Stage
Series D
Total Amount Raised
Subscriber access only
Innovcare Lifesciences Pvt. Ltd. - timeline of key events
Innovcare Lifesciences Pvt. Ltd. - financials
| Fiscal Year Ended | Mar 31, 2015 | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Mar 31, 2020 | Mar 31, 2021 | Mar 31, 2022 | Mar 31, 2023 | Mar 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 38,523,200 | 169,487,796 | 295,745,065 | 381,328,368 | 536,085,434 | 517,237,681 | 342,706,947 | - | - | - |
| % Revenue Growth (YoY) | - | 340.0% | 74.5% | 28.9% | 40.6% | (3.5%) | (33.7%) | - | - | - |
| EBITDA (USD) | (46,982,834) | (98,233,718) | (93,096,231) | (156,981,113) | (52,997,804) | (151,030,931) | (157,098,475) | - | - | - |
| Operating Income (USD) | (47,240,297) | (99,032,887) | (93,867,614) | (157,818,408) | (53,546,309) | (151,677,883) | (157,962,287) | - | - | - |
| Operating Margin | (122.6%) | (58.4%) | (31.7%) | (41.4%) | (10.0%) | (29.3%) | (46.1%) | - | - | - |
| % EBITDA Margin | (122.0%) | (58.0%) | (31.5%) | (41.2%) | (9.9%) | (29.2%) | (45.8%) | - | - | - |
| NET Income (USD) | (44,926,608) | (103,164,285) | (98,625,888) | (150,813,208) | (59,813,500) | (157,222,290) | (166,133,158) | - | - | - |
| % Net Margin | (116.6%) | (60.9%) | (33.3%) | (39.5%) | (11.2%) | (30.4%) | (48.5%) | - | - | - |
Innovcare Lifesciences Pvt. Ltd. - employee data
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