The Good Bug, two others raise early-stage funding
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The Good Bug, two others raise early-stage funding

By K Amoghavarsha

  • 18 Sep 2023
The Good Bug, two others raise early-stage funding
Chris George, co-founder and chief executive officer, QubeHealth

Direct-to-consumer brand The Good Bug, software-as-a-service startup EquityList and fintech startup QubeHealth have raised early-stage funding, the companies said on Monday. 

The Good Bug has raised $3.5 million (Rs 29.1 crore) in a Series A funding round from Fireside Ventures.  

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The startup plans to use the funding for product development, hiring talent and brand investments. 

Founded in 2022 by Keshav Biyani and Prabhu Karthikeyan, The Good Bug has products that address issues like bloating, constipation and weight management amongst others which have their roots in the health of the gut. The brand claims to have 1 lakh customers to date. 

"We aim to expand the gut health category in India, which has been an unexplored segment. We aim to help people get to the root cause of core health issues and solve it,” said Biyani and Karthikeyan, co-founders, The Good Bug.  

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EquityList has secured $2.2 million (Rs 18.3 crore) in a seed funding round from a host of investors including AngelList India, Hustle Fund, Republic, Unpopular VC, Mana Ventures, Super Capital and Riverwalk Holdings.  

Angel investors like Tanmay Bhatt, Ramakant Sharma (Livspace), Gajendra Jangid (Cars24), Sairee Chahal (Sheroes), Rangarjan Krishnan (Five Star Finance), Sajid Rehman (MyAsiaVC), Faiz Mayalkarra (KubeVC) among others also participated in the funding exercise.  

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The funding will be used for expanding EquityList’s presence as well as hiring talent.

Operational since 2020 in beta within AngelList India, EquityList is a full-stack equity and shareholder management platform for companies across India, Singapore, and the US. Its services include cap table management, stock options like employee stock option plans (ESOPs), data rooms, valuation services, and related compliances. EquityList officially got incorporated earlier this year to run as an independent business. 
 
The firm counts companies like Blackbuck, Bizongo, Sugar Cosmetics, Slice, Cars24, Shiprocket, Smallcase and Ditto Insurance amongst others as part of its client portfolio.   

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QubeHealth has raised an undisclosed amount in a pre-Series A funding round from Inflection Point Ventures (IPV), Green Ivy Ventures, Keiretsu Forum and undisclosed family offices.  

The funding is expected to provide the Mumbai-based company a runway of at least two years as it sets up to raise a Series A round as well.  

QubeHealth offers a payment system and healthcare credit line to employees of companies that sign up for its QubeHealth-Credit product which is offered as a complement to the group health insurance policy provided by employers.  

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From paying medical bills that are not covered, or partially covered by health insurance, to paying non-cashless bill payments in the outpatient department (OPD), Qube’s users borrow and pay as they need from a pre-assigned credit limit. The credit line is free to the employee, but the employer pays a small subscription fee, on behalf of the employee.

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