The funds to be used mainly for fueling the company’s growth and expansion, R&D, among other strategic interventions
Varco Leg Care, a consumer health-tech company has announced raising a bridge funding round of Rs 2 Crore. This round was led by Neeraj Garg, former CEO of Hindustan Coca-Cola. Besides participation of existing investors, the round also witnessed participation from multiple new investors, including senior executives from Coca Cola, Emporia UAE, Highway Concessions One - a KKR company, and few HNIs, recognizing the immense potential and promise that Varco holds.
The company will be utilising the newly acquired capital to propel the company’s growth across various crucial areas, such as acquisition of top talent, expanding retail presence, appointing key opinion leaders (KOLs), exploring new international markets, integrating cutting-edge technology to enhance treatment adherence, enhancing R&D efforts, and elevating customer retention efforts, it said in its statement.
Speaking about the latest fundraise, Anondeep Ganguly, CEO, Varco Leg Care remarked, “ The funding will play a major role in bolstering our mission of fostering a healthier, happier world, one leg at a time. Beyond pioneering effective leg care products with the help of advanced phyto and neural network technology, we at Varco are also empowering consumers to actively engage in diagnosing and managing their leg health. In the long run, we aim to become a global leader in the leg care solutions domain, and envision a world where all individuals move freely without any leg disorder burdens”.
Ex-CEO of Hindustan Coca-Cola, Neeraj Garg, who is the lead investor of the round, and has been recently appointed as an Individual Director of Nano Phyto Care, the parent company of Varco, expressed his confidence, saying, “By creating breakthrough leg care solutions powered by phytotechnology and enabling consumers to proactively manage their well-being, Varco is ushering in an unforeseen positive transformation in the leg care space. Going forward, we foresee Varco Leg Care products becoming a household essential across our country and internationally too.”
Based on its ambitious and strategic vision for growth, over the next two years, the company is determined to achieve an impressive 10x growth in its Monthly Recurring Revenue (MRR). This transformation shall be driven by several key initiatives, including attracting top-notch experts to strengthen its team, integrating technology into operations for streamlining procedures and enhancing client experiences, and ensuring that the company remains at the forefront of innovation and excellence.
Varco Leg Care is actively developing a comprehensive leg care products’ portfolio and plans to strengthen its position across the US market through strategic partnerships with leading marketplaces, the company added.