The founders' medical-focused approach to e-commerce retail and brand building is behind the success of earlier ventures, previously building an 8-figure e-commerce brand recognized as one of the most successful names in its niche and part of Gravitiq's rapidly expanding healthcare portfolio
Gravitiq, the doctor-founded and led healthcare brand aggregator, today announced the close of its seed funding round, raising a total of $55 million.
Investors include CoVenture, an asset management firm investing across the capital stack of tech-enabled companies and Crossbeam Venture Partners, a venture capital firm backing startups building the next generation economy, and Singh Capital Partners.
With a vision rooted in improving the consumer healthcare space on Amazon, the financing will allow Gravitiq to acquire additional companies and expand their portfolio of e-commerce healthcare brands, as well as scale its team across the US, Europe, and Asia. The company, which is led by medical experts, is focusing on building the world’s leading digitally-native consumer e-commerce healthcare company.
“Improving the consumer healthcare industry starts with growing and improving individual companies and businesses,” said Dr. Saurabh Srivastava, Co-Founder. “With the support of CoVenture, Crossbeam and Singh Capital Partners we will be able to greatly expand our reach, lending our medical and e-commerce expertise to more businesses.”
“As a team of medical professionals, we have the unique ability to enhance current product offerings, allowing us to scale our brands effectively and stand out from the competition. Improving consumer experience is at the heart of what we do” said Dr. Adam Gunasekara, Co-Founder.
Co-Founder Sachin Srivastava, who began his career at Latham & Watkins, brings his background in M&A and private equity transactions to head up Gravitiq’s acquisition process, targeting high quality, reputable healthcare brands. Gravitiq’s M&A team combines professionals with backgrounds in investment banking, private equity, and strategy consulting, including McKinsey, Citigroup, and JPMorgan.
The founders’ medical-focused approach to e-commerce retail and brand building is behind the success of earlier ventures, previously building an 8-figure e-commerce brand recognized as one of the most successful names in its niche and part of Gravitiq’s rapidly expanding healthcare portfolio.
“Gravitiq is at the center of both the Amazon third-party seller space and the online consumer health movement, two rapidly growing themes,” said Sakib Jamal, Investor at Crossbeam. “With the team’s unique medical background and experience in e-commerce, we are confident in Gravitiq’s ability to make best-in-class consumer products more accessible.”
The health and personal care category is one of the largest and fastest growing e-commerce segments and currently the second largest niche on Amazon.
Source: Company Press Release