Gravitiq Announces $55 Million Seed Financing Round
Investors include CoVenture, Crossbeam Venture Partners, and Singh Capital Partners
Investors include CoVenture, an asset management firm investing across the capital stack of tech-enabled companies, Crossbeam Venture Partners, a venture capital firm backing startups building the next generation economy, and Singh Capital Partners.
With a vision rooted in improving the consumer healthcare space, the financing will allow Gravitiq to acquire additional companies and expand their portfolio of e-commerce healthcare brands, as well as scale its team across the US, Europe, and Asia. The company, which is led by medical experts, is focusing on building the world’s leading digitally-native consumer e-commerce healthcare company.
“Improving the consumer healthcare industry starts with growing and improving individual companies and businesses,” said Dr. Saurabh Srivastava, Co-Founder. “With the support of CoVenture, Crossbeam, and Singh Capital Partners we will be able to greatly expand our reach, lending our medical and e-commerce expertise to more businesses.”
“As a team of medical professionals, we have the unique ability to enhance current product offerings, allowing us to scale our brands effectively and stand out from the competition. Improving consumer experience is at the heart of what we do” said Dr. Adam Gunasekara, Co-Founder.
Co-Founder Sachin Srivastava, who began his career at Latham & Watkins, brings his background in M&A and private equity transactions to head up Gravitiq’s acquisition process, targeting high quality, reputable healthcare brands. Gravitiq’s M&A team combines professionals with backgrounds in investment banking, private equity, and strategy consulting, including McKinsey, Citigroup, and JPMorgan.
The founders’ medical-focused approach to e-commerce retail and brand building is behind the success of earlier ventures, previously building an 8-figure e-commerce brand recognized as one of the most successful names in its niche and part of Gravitiq’s rapidly expanding healthcare portfolio.
“With the team’s unique medical background and experience in e-commerce, we are confident in Gravitiq’s ability to make best-in-class consumer products more accessible,” said Sakib Jamal, Investor at Crossbeam.
The health and personal care category is one of the largest and fastest growing e-commerce segments.
Gravitiq is the doctor-founded and led value-acceleration platform for healthcare, building the leading e-commerce healthcare portfolio. Aiming to improve the overall consumer healthcare space, Gravitiq builds, acquires and incubates healthcare brands across all channels. For more information, visit https://www.gravitiq.com/.
CoVenture is an asset management firm investing across the capital stack of tech-enabled companies, often providing the first institutional equity and/or debt financing to business operations across financial services, new forms of media, platform economies or industries we are yet to imagine. For more information visit https://coventure.vc/.
Crossbeam Venture Partners (Crossbeam) is a venture capital firm that invests in Seed and Series A startups building tomorrow’s economy. Focused on the themes of platform economies, fintech, and legaltech, Crossbeam is built to back companies of the next generation economy and the small businesses of tomorrow. For more information, visit https://crossbeam.vc/.