Healthfab, a Bengaluru-based femtech direct-to-consumer (D2C) firm, announced today that it has raised Rs 2.17 crore in a seed fundraising round headed by Singapore-based Beyondseed, with angel investors Goh Ee Fann and Abhijit Datta participating.
Healthfab was formed in 2019 by Kiriti Acharjee, Saurav Chakraborty, and Satyajit Chakraborty with the goal of providing cheap solutions for a healthy and sustainable human life. The company’s primary product, ‘GoPadFree,’ was created to provide comfort to women while also promoting a more plastic-free society.
In a statement, the company stated that these panties do not require the use of extra menstrual items such as sanitary pads, tampons, or cups. Healthfab claims to have increased its monthly revenue by 5 times in the last year.
Healthfab will utilize the raised amount towards creating awareness about the benefits of reusable, standalone, and eco-friendly period panties over unsustainable sanitary products. The startup is also aiming to quadruple its sales in the coming financial year. “An innovative product like GoPadFree needs strategic marketing and with the availability of fresh funds, with this funding round we are confident of introducing GoPadFree to a lot more women,” Saurav Chakraborty said.
“We aim to improve the overall quality of human life by providing innovative & sustainable solutions in the underserved categories of health and personal care,” Kiriti Acharjee said.
Healthfab claims that by adopting the reusable period panty “GoPadFree,” it has saved over 20 tonnes of plastic sanitary waste that would have been generated if single-use plastic sanitary pads and tampons had been used.
“We are aiming to lead the growth in the reusable period panty category to start with and thereby expand to other niche categories over the next 12-18 months. I would like to thank our customers and investors for their trust in our product and vision,” Kiriti adds.
Speaking on the investment, Yuan Jin Khoo, COO, Beyond Seed said: “We believe in the team’s vision to create an environmentally friendly and sustainable society and are excited to work together with the Healthfab team to achieve its goal. Godfrey has already improved the well-being of so many female customers across many countries and we look forward to supporting the team by bringing our expertise on board and working closely with the founding team in its expansion.”
“We are honored to be able to support Healthfab in their goal to provide sustainable products for personal care for women. We are fully confident that they will continue to innovate more products to become the leader in the APAC region,” added Goh Ee Fann, Angel Investor.
Additionally, the company is also working on developing new product categories in the health and hygiene space which are more affordable and can be used by the masses.