Parent Company
Vinit Garg is a seasoned entrepreneur and a veteran of more than 20 years in product-centric businesses. Prior to launching Mylo in 2018, he honed his skills and expertise in product leadership positions at organisations such as Wynk Music and MakeMyTrip, where he played key roles in scaling platforms and delving deep into various facets of the consumer industry. Garg identified a significant market opportunity in the parenting sector, particularly in mother and baby care, which is worth a staggering USD 40 billion in India. Mylo, under Garg’s leadership, emerged as the leading full-stack solution tailored for the unique needs of Indian parents, offering a comprehensive product range for the various stages of parenting, from conception to post-partum for mothers and from diapering to baby gear for infants. His strategic vision and focus on addressing the specific challenges faced by Indian parents have positioned Mylo as the go-to destination for over 50 million Indian parents, as claimed by the company.
Unprecedented Growth
The financial performance of Mylo mirrors its meteoric rise. Within two years of its launch, the brand achieved a Rs 100-crore annual recurring revenue (ARR) and protracted revenue growth. The company recorded a 20x jump in revenue from FY21 to FY23. The company claims to have over 10 million users, with over 1.5 billion native impressions annually, and 150 per cent year-on-year growth. Mylo aims to reach Rs 1,000-crore ARR over the next three years and become a leader in the mom and baby segment within this decade.
Biggest Parenting Market
In a highly competitive space such as parenting in India, funding is essential to remain in business. To date, Mylo has raised over USD 25 million from various venture capital firms including ITC and W Health Ventures.
Each year, India welcomes the highest number of newborns globally out of the 25 million babies born worldwide. However, parenthood presents significant challenges -- one in 10 Indian women encounter difficulties conceiving, two in three struggle with breastfeeding, and one in seven experience post-partum depression. Remarkably, despite these obstacles, a comprehensive, culturally-tailored parenting solution for Indian parents has been absent. Mylo seeks to address these issues with its premier full-stack solution for Indian parents.
