7, Nov 2023
Varco® Leg Care’s Vision for Healthy Legs Gets an INR 2 Cr Funding Boost
– The funding round was led by Mr. Neeraj Garg, Former CEO of Hindustan Coca-Cola, a blend of existing and new investors participated in the round
– The funds to be used mainly for fuelling the company’s growth and expansion, R&D, among other strategic interventions
National, 7th November 2023: Varco® Leg Care, a leading consumer health-tech company at the forefront of best-in-class science, photo technology, and neural network innovation, has announced raising a bridge funding round of INR 2 Crore to advance its mission of revolutionizing leg care across India and the world. This round was led by Mr. Neeraj Garg, Former CEO of Hindustan Coca-Cola. Besides the 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 a few HNIs, recognizing the immense potential and promise that Varco® holds.
Varco® Leg Care will be utilizing the newly acquired capital to propel the company’s growth across various crucial areas, such as the 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.
Speaking about the latest fundraise, Mr. Anondeep Ganguly, CEO, of Varco® Leg Care remarked, “We are happy to announce the successful conclusion of our bridge fundraise – which is a testament to the trust and confidence that our investors have in Varco® Leg Care and our committed team. Additionally, 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, Mr. 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, “This successful fundraise underscores the profound belief that investors have in Varco® Leg Care. 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, Varco® Leg Care 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. Furthermore, Varco® will also be expanding its product portfolio, introducing unique topical photo products for foot ulcers, restless leg syndrome, nail fungus, and cellulite.
Through these strategic endeavors, Varco® is poised to establish itself as the world’s leading leg care brand, committed to delivering healthier, happier legs to people across the globe. 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, as well as to expand to new markets such as GCC countries.
Powered by state-of-the-art neural network technology and photo technology, Varco® Leg Care offers users the ability to actively self-diagnose and manage their leg health, ushering in a new era of personalized care and convenience. Varco® has achieved many remarkable milestones in its journey since its inception in 2022. To date, they have served over 3 lakh customers, expanded their presence to over 1500+ pharmacies across Mumbai, Bangalore, and Delhi, and recorded a net
lifetime revenue of over $1 million.
With a retention rate exceeding 40% and an efficacy rate surpassing 82%, Varco® has successfully earned the trust of Indian consumers by offering competitively priced, high-quality, and effective products that target a range of leg health issues. They are proud to be among the select Indian brands listed on Walmart and have been achieving a remarkable 30% month-on-month growth rate. The company is looking to raise more rounds of funding in the near future, to further enhance and skyrocket its growth.