About The Round
We are pleased to announce the latest investment by Key Venture’s Investor Forum in Newmi Care, a FemTech startup which solves the need for quality OPD care for women. The $1.5M round was led by Sprout Venture Partners and also saw participation from a leading family office, LetsVenture, Sarcha Advisors, and marquee angels.
This marks KVIF’s third investment, following its investments in FlexifyMe, a chronic pain management health-tech platform and Knorish, a Gen-AI based content monetization suite.
Key Venture’s Investment Banking vertical served as financial advisor to Newmi for this transaction.
About Newmi Care
Newmi is a phygital women’s OPD health platform that provides personalized care throughout a woman’s life, from puberty to menopause. They address the $15Bn women-specific OPD market of urban India, through tailor-made digital health packages for different life stages of a women. These are offered as a B2C subscription and through corporate wellness packages.
Business Model
Newmi delivers its services and products through a blend of technology & in-person care via its digital platform and women & child focused gynaecology clinics. Solutions include consultations, diagnostics, treatments/procedures, wellness (physical fitness, weight, nutrition, mental health etc.), health & wellness products, health trackers, record management, education & awareness all integrated into a single platform.
Newmi has launched multiple market first solutions including women centric OPD insurance products with leading insurers. They currently have 10 operational clinics in Delhi/NCR.
They also have multiple live group OPD health insurance customers including several unicorns and Fortune 500 companies. Acquisition and delivery for these products happen through digital channels which is key to non-linear growth.
Key Achievements
Since its inception in May 2022, Newmi has serviced more than 60,000 women across 400 cities in India covering health concerns ranging from menstrual, sexual & hormonal health, fertility & maternity, menopause and women reproductive organ cancers.
The company was also recently awarded a follow-on grant by US-AID for their impact on the Family Planning, Sexual and Reproductive Health ecosystem in India.
Next Phase of growth
This round of capital infusion will fund Newmi’s women-focused clinic expansion in North and West India, talent acquisition and tech development.
Among the existing investors supporting Newmi are Rohit Chanana (Founder, Saracha Advisors), Kavish Arora (MD, Bank of America), Amit Agarwal (Partner, PWC), and Sameer Khan (ED, DBS Bank).
Founders’ and Investors’ Thoughts on Working with Key Venture
“We are on a mission to simplify outpatient care for women in India and bring women health to forefront. This capital infusion is a step to move closer to our path to solve for women health at scale in India” said Sanchit and Aditi, founders of Newmi Care. “We are thrilled to have the support of Sprout and other partners, which will help us take the next big steps toward achieving our mission.”
Maneesh Bhandari, CEO of GrowthPal and the lead investor from Key Venture’s Investor Forum shared his thoughts, “Very excited to be part of the journey with Newmi founders Sanchit and Aditi. Women’s health requires focused, specialised and continuous proactive attention and that along with founders’ passion and personal & professional experiences, makes this venture very special. Key Venture was instrumental in evaluating, syndicating and facilitating the investment for Newmi, and our investor group through KVIF had a very pleasant and sincere experience working with the entire Key Venture team.”
“We see a clear opportunity in building a trusted brand in the women’s health lifecycle space. We have seen this play out in some of the other healthcare categories. This will be a large market in future with the growing awareness of health lifecycle amongst the next generation of women. Newmi is looking to solve this problem with its unique omnichannel approach and innovative product offerings. Sanchit and Aditi are a great team to execute this, and we are excited to back them in this journey.” said Sahil Gupta, Partner at Sprout.
Nidhi Saraf, CEO & Co- Founder of Key Venture, “Newmi’s model of payor + provider ensures a patient is provided with solutions customized to one’s needs thereby increasing value for both patients and the healthcare service providers. This unique proposition coupled with the founding team’s expertise in strategy and building consumer brands sets the company for profitable hypergrowth.”
About Key Venture
Key Venture is an Investment Bank specialising in assisting early and growth-stage companies with mergers and acquisitions and raising capital from institutions, including VCs, PEs, corporates, family offices, and HNIs.
Founded by Nidhi Saraf (CEO) and Hars Saraf (COO), Key Venture plays a crucial role in supporting promising startups and companies in achieving their growth and funding objectives within the healthcare and technology sectors.
About Key Venture Investor Forum (KVIF)
Key Venture Investor Forum (KVIF) is an invite-only community tailored for UHNIs, VCs, and corporates globally. The platform offers a curated gateway to investment prospects and a vibrant ecosystem that fosters diverse portfolios, collaborations, and unparalleled networking opportunities, uniting innovative startups with seasoned investors.
For Inquiries, Please Contact:
Nidhi Saraf, Founder & CEO – [email protected]
Hars Saraf, Co-Founder & COO – [email protected]