Healofy, an Indian social networking app aimed at pregnant women and new mothers, has raised $8 million in fresh funding. The money came from China’s BabyTreeGroup, BAce Capital and existing investor Omidyar Network India.
The company said it plans to invest the funds to further strengthen the product, engineering and data science teams and scale its machine learning and personalisation engine.
“Women are the primary purchase decision makers in most Indian households. Our data shows they are social in their decision making, underlining the importance of building trust through a strong network,” said CEO Gaurav Aggarwal.
“To help them transact online, it is critical to innovate and provide for an online shopping experience similar to the offline world. Companies like BabyTree and Little Red Book in China have demonstrated that highly engaged networks can transition into large commerce platforms. We are very excited to be partnering with our investors in our next phase of growth given their expertise in their respective markets.”
Founded in 2016 by Aggarwal and Shubham Maheshwari, Healofy began life as a portal focused on pregnant women and new moms in the 21 to 35 age group. It allows users to post questions and seek advice from medical experts and others regarding maternity and childcare.
Healofy claims to have over 500,000 daily active users on their mobile app.
In its next phase, the company has plans to expanding into newer categories like fashion, food, and lifestyle with services in eight Indian languages.