JSB Healthcare Raises 2.5 Crores From Velocity
Home health and fitness products brand JSB Healthcare has raised Rs 2.5 crores from Velocity across two rounds of financing.
Based out of New Delhi, JSB Healthcare is one of India’s leading brands in the health and fitness industry. It 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. While several brands are yet to confront the reality of the changing retail landscape, JSB Healthcare commenced selling on online marketplaces way back in 2003. Today JSB Healthcare has a massive online presence and drives the majority of its revenues via online marketplaces like Amazon, Flipkart, Jiomart, Paytm, and Snapdeal.
JSB Healthcare has tactically been able to create brand and product awareness by being an early adopter of social media. The company has been posting professionally filmed videos that elaborate on product quality and functionality on its YouTube channel since 2010 and today has over 27.2k subscribers that engage regularly with their content. Further, the brand also has a presence on Facebook and Instagram, all of which double up as customer acquisition and brand-building channels.
With this round of funding, JSB Healthcare aims to further scale up its marketing and introduce new products to its catalog. “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, when asked about the funding round.
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 4x 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% till FY25.
Speaking about the round of financing, Abhiroop Medhekar, Co-founder & CEO of Velocity, said, “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.”
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Velocity.in, a Bengaluru-based fintech, is India’s largest revenue-based financing platform. Over 1,500 e-commerce businesses have signed up with them since they started in early 2020. With Rs 1,200 crore of fundable revenues connected to Velocity’s platform, the fintech has already processed 400+ investments across 300+ companies. To grow your business with revenue-based financing from Velocity apply now and get funded within 7 days.
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