Bibo raised $150k from investors led by ah! Ventures. Bibo is D2C (direct to consumer) health products brand launched in 2020 and has got strong acceptance and recognition since its launch in Jan 2020. Recently YourStory has recognized Bibo as one of the top 100 challenger brands in the country. ah! Ventures’ has done a total of 108 investments (in 83 Startups) to date taking its total investment portfolio to $34 M with 13 exits and 23 follow on rounds. 6 investments have happened through all three platforms in 2022 date.
This Bangalore based startup’s flagship brand is Bibo (Breathe in Breathe out). Founded by Vikash Kumar, an ex-investment banker having worked with Deloitte, SBICaps and Springforth Capital. Vikash closed multiple transactions in the pharma, healthcare and energy sector. “Having worked with several pharma entrepreneurs and CXOs and visiting around hundred pharma facilities, I could understand the vastness of the sector which had been growing in double digits for over a decade. However, the whole trade is being run traditionally with conventional methods. Even after the evolution of e-pharmacies like Pharmeasy, 1mg etc., the key stakeholders and product mix remains the same.”, says Vikash on how he started his journey.
Bibo aims to disrupt the market with category brands and the D2C approach. The market is largely under-branded with the category brand concept completely missing in India. Bibo has launched products in the respiratory care space and will be strengthening its offerings for chronic patients in the segment. The company has got a good response of products on platforms like Amazon and Pharmeasy and has sold more than 3 lakh quantities across 7 SKUs since inceptions.
“India being largely under-branded in healthcare products space, I see strong potential in Bibo to launch premium and effective products and grow at a disproportionate pace compared to traditional companies. I liked the approach of founder and key team, and decided to back them.”, said Srikanth Iyengar, MD with a large U.K. tech learning firm, previously a senior leader with Capgemini, Conduent and Infosys and also an angel investor in startups like Avni, WYSA.io and Oben etc.
“Specialized D2C brands have a long way to go. They would always deliver larger returns on ad spend as the basket size would be larger and bigger repeat orders from chronic users. Bibo has already demonstrated ability by achieving more than Rs. 5000/- sales per repeat buyers while average MRP stands Rs. 110. This also ensures high profitability and valuations. We are excited to work with Bibo and look forward to working closely with them in coming months” said Abhijeet Kumar, Co-Founder ah! Ventures.
Bibo has launched a range of natural products including path-breaking Bibo Clear Vapor Patch which is India’s first vapour patch. It replaces the use of balms and comes in very handy in managing blocked noses in kids. Saline Nasal Spray launched by Bibo has got big acceptance in the market. “Value-added products addressing certain unmet needs of consumers vis-à-vis patients would always be received well by people. Bibo’s plan to launch value-added premium products catering to gaps in the market is an amazing strategy and will definitely work well”; said Dr Raju Rhee, Venture Partner - ah! Ventures and ex-Director in Twin Health which is a leading digital therapeutics platform around Diabetes and raised $130Mn from Sequoia and other investors. Dr Raju also worked with AstraZeneca, Wockhardt, Pfizer and health AI company MayaMD.AI.