The funds will be used to grow R&D, marketing and offline presence
New Delhi-based Varco Leg Care, the world’s first dedicated leg care brand, has raised a cumulative of $0.5 Million (over Rs 4.5 crore) in seed funding while doubling its valuation within only 10 months. The recently concluded seed round was led by Sunicon Maiden Fund, an early-stage venture fund curated by Sunicon Ventures.
Varco Leg Care will be utilising the newly acquired seed capital to strategically bolster capabilities across various fronts, which include enhancing offline touchpoints, advancing research and development (R&D) initiatives, and scaling and optimizing marketing efforts. Additionally, the company would be allocating significant funds and resources shortly towards enhancing its credibility further with the expansion of its existing IP portfolio (4 patents have been filed by Varco till date), as well as publishing its in-house conducted clinical studies’ findings in various reputable medical journals.
Anondeep Ganguly, CEO, Varco Leg Care said, “We are elated to announce our seed fundraise led by Sunicon Maiden Fund, signifying their strong vote of confidence in Varco’s groundbreaking approach to leg health management. This capital infusion serves as a major milestone in our growth journey; it not only propels us to boost our customer base, supply chain and offline visibility but will also play a pivotal role in advancing our steadfast commitment to presenting robust clinical evidence-based research and solutions. We are not only emphasizing and focusing on extensive clinical trials but also leveraging a pioneering low-friction technology to establish and validate that evidence. Going ahead, as we grow and scale exponentially and remain committed to delivering superlative leg health solutions, we shall continue placing the needs of our valued customers at the heart of our R&D initiatives.”
Saloni Jain, Founding Partner, Sunicon Ventures said, “We are proud to back Varco Leg Care, India’s first digital-native consumer healthcare brand revolutionizing leg care. With a team boasting 30 years of research and a strong IP portfolio, Varco is set to transform diabetic foot and varicose vein treatment. We at Sunicon are excited to support Varco’s mission in reshaping healthcare accessibility and outcomes across India”.
As a digital-native consumer healthcare brand, Varco Leg Care has witnessed phenomenal growth of late, with a staggering 110 per cent increase in the brand’s revenue over the past year. The credit for such remarkable growth can be majorly attributed to the introduction of Varco’s flagship low-friction self-care technology, which enables users to actively self-diagnose their leg health, enhances personalised recommendations and improves treatment adherence for consumers.”
