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Sova Health secures $1 million in seed round to accelerate growth of full stack gut health platform

Our Bureau, Bengaluru
Tuesday, June 11, 2024, 16:30 Hrs  [IST]

Sova Health, India’s pioneering full-stack Gut Health Company, announced the successful closing of its $1 million seed round. The investment was jointly led by global early stage VC Antler, Accelerating Asia from Singapore, Practical VC from the US, and VC Grid & Venture Catalysts from India.  The round also saw participation from Quadrant Consumer Products, Midas Capital (Baheti Family Office), and marquee angel investors.
 
This latest funding round follows the company’s earlier success in securing its pre-seed round from Goodwater Capital, Brinc, IIMA Ventures, and Stanford Angels, among others.
 
Sova Health will use the new investment to fuel the company’s growth initiatives across three key areas. One is product development, team expansion and market expansion.
 
Tanveer Singh, co-founder and CEO, Sova Health said, "This investment marks a significant milestone for us as we continue to expand our product portfolio and reach. We are grateful for the support of our investors and look forward to leveraging this capital to drive innovation and make a positive impact in the gut health space. It's still day 0 in our mission to add a billion healthy years to the world."
 
Over the past 15 months, Sova Health has experienced exponential growth, achieving a tenfold increase in revenue. The company today stands as a market leader in direct-to-consumer gut microbiome testing and has successfully launched a range of proprietary probiotic supplements, with close to 100,000 units sold.
 
Sharing why Sova has been able to make a significant impact, Max Kushnir, co-founder and chief science officer, Sova Health said “We have built a proprietary database of the Indian microbiome, drawing from thousands of in-house gut microbiome tests. Using this data, we develop probiotics targeted at the Indian gut.”
 
Furthermore, Sova Health has developed a portfolio of products addressing a wide range of digestive health symptoms, including bloating, IBS, constipation, and overall gut health. Additionally, the company offers customized gut health programmes for individuals with gastrointestinal conditions such as IBS, IBD, GERD, Crohn’s disease, chronic acidity, and constipation, among others. Sova engages in testing hundreds of patients each month, effectively conducting a continuous clinical trial. The data gathered from these tests is then utilised to clinically validate the efficacy of Sova’s probiotic supplements.
 
With this latest funding, Sova Health aims to further enhance its product portfolio, launch a clinical trial for its DTx programme, and further its position as a leading player in the gut health industry in India.
 
Vansh Oberoi, CIO, Venture Catalysts and managing partner, VC Grid said, “The field of digestive or gut-related healthcare is often neglected and underestimated in India, despite the fact that over 56% of the population, particularly in urban areas, experience chronic gut-related disorders. However, there has been a recent surge in consumer awareness regarding gut health, presenting a significant opportunity for Sova.”
 
Sharing his views, Craig Dixon, general partner, Accelerating Asia said, “This investment aligns with our strategy to support research driven and tech-enabled health solutions. The company is scaling at an impressive pace due to the large market opportunity and the execution of the leadership team of Tanveer and Max."
 
Jussi Salovaara, co-founder and managing partner, Antler said, "This investment aligns with our vision to support founders who are solving critical health challenges with cutting-edge solutions."

 




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