Healthcare startup Poshtick raises angel funding

Healthcare and wellness startup Poshtick said on Saturday it has raised $450,000 (Rs 3 crore) in angel funding from Noida-based affluent individuals Bhavya Sharma and Amit Nagar.

The New Delhi-based company, which was founded early this year, aims to create snack options and make them accessible for the masses, Pranav Sharma, the 23-year-old co-founder, said in a statement. His friend Kritik Thakur is another co-founder of the company.

The funds raised will primarily be used for product development, developing human resource capabilities and supply chain mechanism, the statement added.

Its first product is called 'The Finge Box’, which is a calorie and portion defined mid-meal snacking solution. 

The company is building its online presence, and is planning to establish its retail presence in Delhi-NCR, Bangalore, Mumbai, Chennai, Hyderabad and Kolkata to offer its snack options.

The Poshtick app is in the development stage and will be launched early next year, the statement said.

“People including myself are now increasingly health conscious, but it’s extremely difficult for them to find healthy mid-meal snacking options... and when we found Poshtick’s founders making a mark in this industry, we decided to back them,” said Bhavya Sharma, who is director of Provence Realty, a privately held real estate firm. 

Preventive healthcare and wellness sectors at large have seen strong growth due to rising disposable incomes and health awareness among customers. The size of the health and wellness industry is Rs 22,500 crore, Bhavya Sharma said in the statement.

A number of healthcare startups aimed at helping people get fit and healthy have raised funding in the past months. In June, CureJoy, an online community that connects users with alternative medicine experts, raised $4.4 million in a Series A round led by its existing investor Accel Partners India. In the same month, Gomalon Technology Ventures Pvt. Ltd, a Bangalore-based wellness services startup, raised $100,000 (around Rs 67 lakh) in a second round of seed funding.

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