London-based Gravitiq, a healthcare brand aggregator founded and led by doctors, announced that it has raised $55M (approx €48.69M) in its Seed round of funding.
Gravitiq is building an e-commerce healthcare portfolio. It acquires and scales top health and personal care brands on Amazon with an intent to help individuals globally take better control of their health.
Investors and capital utilisation
The investment came from CoVenture, an asset management firm investing across the capital stack of tech-enabled companies, and Crossbeam Venture Partners, a venture capital firm backing startups building the next generation economy.
Dr. Saurabh Srivastava, co-founder of Gravitiq, says, “Improving the consumer healthcare industry starts with growing and improving individual companies and businesses. With the support of CoVenture and Crossbeam we will be able to greatly expand our reach, lending our medical and e-commerce expertise to more businesses.”
The proceeds from this round will help the company acquire additional companies and expand its portfolio of e-commerce healthcare brands. The funds will also be used to scale Gravitiq’s team across the US, Europe, and Asia.
“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,” adds Dr. Adam Gunasekara, co-founder of Gravitiq.
Mission driven doctors turned healthcare entrepreneurs
Founded by Dr. Adam Gunasekara, Sachin Srivastava, and Dr. Saurabh Srivastava, Gravitiq aims to improve the overall consumer healthcare space. It is a Fulfillment-by-Amazon (FBA) aggregator that acquires and scales healthcare brands on Amazon.
As medical doctors, Adam and Saurabh saw the negative effects of poor health in hospitals and clinics. They noticed that by prioritising physical and mental well-being on a day-to-day basis, whether by strengthening muscles, monitoring blood, nourishing skin, or other active and preventative methods, people could all lead healthier lives.
With these principles, they claim to have built an 8-figure e-commerce healthcare brand, becoming expert Amazon operators. The company claims that their medical-focused approach to e-commerce has so far helped over 2 million individuals alleviate the impact of common debilitating diseases.
Sachin Srivastava, who began his career at Latham & Watkins, heads up Gravitiq’s acquisition process, targeting high quality, reputable healthcare brands. The company’s M&A team combines professionals with backgrounds in investment banking, private equity, and strategy consulting, including in McKinsey, Citigroup, and JPMorgan.