Nearbuy.com founder Sumeet Kapur’s Wellcure secures funds from IP Ventures

Serial entrepreneur and Nearbuy.com founder Sumeet Kapur has announced that his next venture, Wellcure, has raised $200,000 from Inflection Point Ventures (IPV).

“With this influx, we aim to scale our operations substantially to reach Rs 5 crore of sales in FY21 whilst doubling our subscribers base. We have been working closely with Vinay Bansal, Founder and CEO of IPV, and look forward to growing Wellcure with this association,” Kapur said. 

Gurugram-based health-tech startup Wellcure was incorporated by Kapur, Ankur Bhatia and Aanchal Kapur in 2018. The company has an existing user base of close to a lakh and it aspires to reach one million people by the next year. It caters to the needs of the customers by offering curated content along with recipes, e-books, online guided programmes and live events.

Wellcure marks the tenth investment from IPV’s platform since March 2020. The company has invested in various startups including Milkbasket food-tech startup Samosa Party and Bengaluru-based edtech startup Edvizo.

“We believe the integration between nature and technology is Wellcure’s biggest selling point, presenting its users with the most appropriate solutions,” Vinay Bansal, co-founder of Inflection Point Venture said.

Health and wellness startups have gained traction in the past few months. In April, Pune headquartered fitness platform Fittr, owned and operated by Squats Fitness, raised $2 million in a bridge funding round led by Surge, the accelerator programme of Sequoia Capital India. 

Zywie Ventures, which runs an omnichannel nutrition brand OZiva, scored $5 million in a Series A funding round led by venture capital firm Matrix Partners India and returning investor Titan Capital in June.