MyDermacy, the online health and wellness venture raises a fresh round of funding from Cyber Carrier, an India-focused Chinese venture capital fund and existing investors. The current round has been reportedly raised against fresh equity amounting to 15%-18%. It is the second round of funding having previously raised $150,000 from angels including promoters of Spectranet and Daljit Singh, president, Fortis Healthcare, among others.

The company is a rapidly-growing platform for skin, hair and aesthetic wellness.

Cyber Carrier, which launched with a target corpus of $45million by China headquartered intelligent mobile advertising platform Yeahmobi, founded by Peter Zou, had recently announced plans to back startups in India. The early stage venture fund usually invests $50,000 to $3 million in the second and third round of funding.

The two-year-old MyDermacy started operations  as an online Q&A platform allowing people to consult online with qualified dermatologists for skin, hair and other wellness-centric concerns.

The venture has expanded its scope from valuable online consultations to adding personalized aesthetic packages such as laser hair reduction, tattoo removal, hair transplants among others with dermatologists and plastic surgeons. It would also provide informative content to educate and spread awareness amongst rapidly growing, aesthetically conscious population.

Further,  MyDermacy performs quality assessment of clinics through its trusted clinics certification that ensures the highest quality care for its customers, and global best practices for aesthetic clinics.

“This funding will primarily be utilized towards the expansion of the product offering and leadership hiring. The health and wellness industry is undergoing a revolution in terms of technology and services”, said Ankit Khurana, founder & chief executive officer, MyDermacy.

“ While many consumers endure various problems in discovering and buying the ideal solutions for their skin and hair, through MyDermacy, we strive to bring transparency and credibility to people searching for aesthetic results. We are also working on our next level of a diversified product offering on both consumer and B2B side. The investment from Cyber Carrier for our venture has allowed us to aggressively execute our strategically-planned expansion in the tremendous and competitive wellness market in the country,” he added.

India currently ranks number 4 globally in the number of aesthetic procedures done including surgical and non-surgical. The beauty and wellness industry in India has a huge market and currently stands at around Rs.615 billion with CAGR of 14% as per Technopak.

According to Jessica Wong, founder and managing partner at Cyber Carrier, MyDermacy is targeting a large market, with immense understanding of both the consumer and the business. The team has been deeply immersed in the industry for many decades now, and has demonstrated strong strategic and execution capabilities.