D2C sexual health and wellness brand Bold Care has onboarded actor Ranveer Singh as the new co-owner of the startup.
As per the startup, Singh has been associated with it for a year and will now serve as its face. Bold Care did not disclose the financial aspects of the deal.
The move will enable Bold Care to leverage Singh’s popularity to market the product effectively. It will also allow the startup to get mainstream attention for its sexual and wellness products, a space which is generally not endorsed by big-ticket celebs.
On the other hand, the co-owner tag will likely come with undisclosed financial considerations for the actor and will be an investment for him.
“We’re absolutely thrilled to finally announce Ranveer as a co-owner at Bold Care! His involvement over the past year has been nothing short of incredible, deeply engaging in every facet of our business. This is going to be an iconic partnership…,” said Bold Care cofounder and chief executive officer (CEO) Rajat Jadhav.
Commenting on the announcement, Singh said, “I am pleased to come on board as the face and co-owner of Bold Care… I have always felt that this category needs more of openness and acceptance in our society… “
Founded in 2019 by Jadhav, Rahul Krishnan, Harsh Singh, and Mohit Yadav, Bold Care is a D2C men’s health and wellness startup whose product portfolio includes condoms, lubes, chewables and gummies. It also sells supplements to boost hair growth, immunity, sleep, among others.
The startup has raised more than $3 Mn in funding till date. It last raised an undisclosed amount of funding in its pre-series A round from Sharrp Ventures, Anthill Ventures, among others, in February last year. It is also backed by names such as Stanford Angels & Entrepreneurs, Shiprocket, NB Ventures and Huddle.
The startup sells its products through its own website as well as online marketplaces such as Amazon, Flipkart, PharmEasy, and Nykaa. It claims to have processed more than 15 Lakh orders since its inception.
Bold Care competes with startups such as Kindly, Sukham, Sassiest, among others.
The move to appoint Singh as a co-owner comes at a time when the homegrown sexual health and wellness space has spawned off a clutch of new brands. As per Tracxn, Indian startups in the space have raised a cumulative $24 Mn in funding since 2020.
The surge has largely been attributed to growing popularity of such products, evolving societal attitude towards sex, and a sense of anonymity available online.
In June this year, feminine hygiene startup Sirona forayed into the sexual wellness category with the acquisition of vegan condom brand Bleü. Prior to that in May, Sukham secured $275K in a pre-seed funding round led by 100X.VC.
As per a report, the homegrown sexual wellness market is projected to grow to a market size of $2.09 Bn by 2030.
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