Elevator Pitch: To be every family’s wellness partner—initially as a single source of health products and wellness services, and subsequently as a Health AMC (Annual Management Contract)—family health management: diagnostics, solutions (including products and services), as well as disease management. This also includes record management, customized packages and health analytics as added features.
Whenever you have an issue, you either speak to someone around, search online for solutions, or sometimes even talk to experts. However, you are not sure if the information you get is credible and complete, if the diagnosis is right in the first opinion, and more importantly, if the solutions will work for you or not. Once you have good clarity about the solutions, you are not sure where you would get them, and how. Finally, you also need to know if those solutions have helped you or not by having the right measuring tool.
Currently, the providers of such services are fragmented, and in some areas, incomplete. There is no one who not only helps you identify the problem, but connects you with people who have faced similar issues, confirms the solutions and diagnosis, and also helps you in providing those solutions. On top of it, you manage the entire health management piece in the backend, along with regular proactive health management checks which we call ‘Health AMC.’
Sreejith [co-founder Sreejith Moolayil] and I wanted to work on consumer health, and due to personal tragedies at home, we were motivated to get diagnosis and preventive healthcare at the forefront of consumer mind spaces. With this social mission of making wellness mainstream, we started Healthy World. We launched in Delhi and began with distribution, with the intent of owning the entire supply chain of health products, but realized very soon that our strength was in building customer relationships. This led to the launch of our ecommerce platform. We started searching for brands that were genuinely unique and had a key health benefit, and built a supply chain. Simultaneously, we also started the corporate wellness partnership with organizations, where we planned and executed activities that encouraged higher employee engagement.
The need of local presence for corporate partners as well as building a supply chain for local vendors led us to launch in Mumbai and Pune in July, 2012. Now that we have initial traction, we want to scale up the service and product offering completely to consumers, simplifying health and wellness for them.
We have a strong network of corporates and dieticians/nutritionists that act as strong customer acquisition platforms for us. Apart from that, we partner with running groups (like Mumbai Running, Pune Running, Procam International), and co-promote health and fitness by combining issues with health solutions.
How We Differentiate From the Competition
We are different on two counts:
We focus on health products, and each of the products that we onboard is ratified by a team of expert nutritionists and dieticians—if they would recommend these products to their clients, we onboard them. Having said that, we do have snacks and gourmet products that might not be 100 percent healthy, but are a much better alternative as compared to common junk food items people consume.
We connect local vendors throughout the country—having the advantage of two offices, we are able to connect local suppliers nationally, in a short span of time, without having to invest in massive amounts of inventory. Hence, we are able to keep our working capital at a fairly reasonable level.
We sell products in the B2C market through ecommerce and services, and in B2B as a wellness partner to corporates. We are now moving [more] to a B2C framework, as well as leveraging our corporate framework to get employees to co-pay for our offerings, ensuring higher engagement rates.
Currently, our revenue model is retailer margins from product and service sales, and fees for our corporate programs. Going forward, our AMC (Annual Management Contract) charges would be our key source of revenue.
Key focus areas:
Technology is our biggest play in the short-term, coupled with enhanced customer acquisition. We intend to have a base of 10 million customers in the next three years, provided we hit our milestones on time. Also, currently we are at two locations, and we intend to have our own setup in five other key metros in the next three years.
We are looking at ramping up our repeat customers, and offering products and services in the B2C space, culminating into Health AMC.
We are looking at raising $200-to-$300K in our initial round, before going for another round within the next 14-to-18 months to ramp up our customer acquisition platform.
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Year Founded: July, 2012