JSB Healthcare Raises INR 2.5 Crore From Velocity The funds will be used to finance inventory for new products and to ramp up digital marketing
Opinions expressed by BIZ Experiences contributors are their own.
You're reading BIZ Experiences India, an international franchise of BIZ Experiences Media.
Home health and fitness products brand JSB Healthcare has raised INR 2.5 crore from Velocity.in across two rounds of financing.
"We have always had overwhelmingly positive feedback from our customers with regards to the quality of our products. The funding from Velocity further validates the strength of our business and will go a long way to enable us to scale operations. We will use this funding to finance inventory for new products and to ramp up our digital marketing." said Jagjot Singh, CEO of JSB Healthcare.
Covid-19 served as a significant accelerant for the home-based healthcare and fitness industry. Companies that cater to the segment experienced massive tailwinds. Likewise, JSB has seen a four times jump in revenues in this category since the start of the pandemic. The home fitness equipment category market in India is forecasted to grow at a CAGR of 10.7 per cent till FY25.
"We are enthused to partner with JSB Healthcare. Sectoral tailwinds coupled with good margins and impressive average order value are all factors that indicate high growth potential for JSB Healthcare. We look forward to developing a long-standing relationship with them and financing their growth as they scale," said Abhiroop Medhekar, co-founder and CEO of Velocity.
Based out of New Delhi, JSB Healthcare carries a vast line of products such as massage chairs, sports & fitness equipment, patient care and wellness products. JSB Healthcare commenced operations 30 years back with a store in Lajpat Nagar, New Delhi. Being an agile family-run operation, management was quick to grasp the shift in consumer behavior towards online shopping. The brand commenced selling on online marketplaces way back in 2003. Today JSB Healthcare has an online presence and drives majority of its revenues via online marketplaces like Amazon, Flipkart, Jiomart, Paytm and Snapdeal.
