GlobalBees acquires femtech startup andMe
- ByManjeet Singh | October 5, 2021
GlobalBees, India’s largest Thrasio-type venture, said on Monday that it acquired Bengaluru-based women health for an undisclosed amount. GlobalBees announced in July that it had raised $150 (roughly Rs 1,123 crore) from Lightspeed Venture Partners as well as FirstCry and some of its partners. At that time, it said it would create a ‘house of brands’ in categories such as personal care, home, kitchen, food, sports and lifestyle.
In addition to acquiring Amazon FBA (Fulfillment by Amazon) businesses, Thrasio operates direct-to-consumer brands. GlobalBees recently acquired the home care products company The Better Home.
In a statement, GlobalBees – an aggregator of digital brands – said it had acquired a women’s health company that will serve women’s unique health needs in terms of menstrual hygiene, hormonal health, beauty, and fitness.
Globalbees is entering the femtech market, which was valued at more than $22.5 billion in 2020 and is projected to grow 16.2 percent between 2021 and 2027.
According to Nitin Agarwal, CEO of GlobalBees, women’s health is largely ignored “…but andMe has been able to bring discussions around women’s health to the forefront, raising awareness about differentiated nutritional needs of women not only in this country but across the world…We also want to accelerate the company’s product development pipeline to create an entirely new category that focuses on the nutrition needs of women across the world,” he added.
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