Sector: FemTech (Women's Health and Ayurveda)
Founded: 2019
Valuation: $31 million (2023)

Overview: Gynoveda is a health-tech startup founded in 2019 that offers Ayurveda-based solutions for women’s health, particularly focusing on menstrual and reproductive health issues.

Challenges encountered:

• Limited awareness and trust in Ayurveda-based health solutions, leading to slower customer adoption.
• Regulatory challenges in navigating the health supplements and Ayurveda product market.
• Cash flow and scaling challenges, as the company was in the early stages of growth.

Solutions:

• Awareness Campaigns: Suggested launching educational content and awareness campaigns to build trust in Ayurveda-based health solutions, focusing on influencer marketing and content-driven strategies.
• Regulatory Strategy: Introduced a robust regulatory compliance framework to ensure all products met legal requirements, reducing risks associated with health claims.
• Cash Flow Management: Implemented a lean cash flow model with staggered payments to suppliers, allowing the company to reinvest funds into marketing and customer acquisition.

Outcomes Attained:

• Increased brand awareness and customer adoption through targeted educational campaigns.
• Reduced regulatory risks by adhering to a strict compliance framework, allowing for smoother product launches.
• Improved cash flow management, enabling Gynoveda to scale operations while maintaining liquidity.

Each of these aforesaid case studies demonstrates the value of robust financial controls in driving growth, mitigating risks, and ensuring compliance for startups and MSMEs in India. Whether it’s through leveraging technology, improving transparency, or focusing on regulatory compliance, the role of financial controls in sustainable business growth is undeniable. As CFOs, we can take these lessons and adapt them to guide our organizations toward financial discipline and long-term success.