Healofy, an Indian women-centric content social network, raised US $8m in Series A funding.
The round was led by BabyTree Group (stock code: 1761.HK), an active maternity and child-focused (M&C) community platform in China, with participation from BAce Capital, a fund led by Ant Financial Services Group, and Omidyar Network.
The company intends to use the funds to
– further strengthen the product, engineering and data science teams,
– scale its machine learning & personalization engines, and
– expand into e-commerce and additional content categories, including fashion, food and lifestyle.
Established in September 2016 and led by Gaurav Aggarwal, Chief Executive Officer, Healofy is a pregnancy and parenting platform for Indian moms.
BabyTree’s investment in Healofy is its first investment in an online M&C platform outside of China, and an important part of its strategy to expand its presence in the global M&C family service industry. Following the investment, the company will share its experience in developing products, services and profitable business models to allow Healofy to increase share of the online M&C market in India.