India, April 10 -- Health and wellness startup Mosaic Wellness, which runs brands like Man Matters and Be Bodywise, has raised over $20 Mn (around INR 175 Cr) from Think Investments.

According to the MCA filing assessed by Inc42, the company's board has passed a special resolution to allot 16,279 Series C Compulsorily Convertible Preference Shares (CCPS) of INR 2 face value at a premium of INR 1.07 Lakh per share for INR 1,74,99,92,500.

"The issue is in the interest of the company's growth and future plans," the filing said.

The startup's pre-money valuation was $380 Mn and after the allotment it is valued at $400 Mn.

Founded by Revant Bhate and Dhyanesh Shah in 2020, Mosaic Wellness runs digital health platforms Man Matters, Be Bodyw...