Indonesia’s EverHaus has invested an undisclosed amount in men’s healthcare company Newmans, Gitta Amelia, founder of the early-stage venture capital firm, told DealStreetAsia in an exclusive chat.
This marks the pre-seed round for the startup established earlier this year.
Catering directly to the consumer, Newmans focuses on men’s health and helps tackle uncomfortable topics “that are often closeted and considered a taboo”, Amelia said. The company that often draws a comparison with US-based forhims.com connects men and doctors on a single platform for guidance on health-related issues such as hair loss, smoking cessation and erectile dysfunction, among others.
“We have invested in this since the industry has good margins, and the timing is apt since we are leveraging the first and second waves established already in Indonesia of payments, e-commerce behavior, and logistics,” said Amelia.
The corpus raised will be used by the startup to spruce up its social media presence and add on influencers who can educate consumers that solutions to ‘men’s problems’ do exist. Going forward, the company plans to build an extensive platform to connect healthcare providers, doctors, insurance partners and patients and plans to raise a bigger amount from investors for that.
Newmans claims to be recording a growth of around 20 per cent month-on-month.
EverHaus is one of the youngest VCs in Southeast Asia. Founded in November 2017, it invests in pre-Seed and pre-Series A rounds across sectors with ticket sizes ranging from $50,000 to $500,000. Its portfolio companies include B2B e-commerce firm Bizzy, online rental portal Jendela360, and DOOgether, a booking startup for fitness and sports classes.