Bengaluru-based sexual health and wellness startup Bold Care proudly announced Bollywood actor Ranveer Singh’s recent investment, making him a co-owner within the company. On December 1, the company confirmed Singh’s involvement without disclosing specific investment amounts or the percentage of stake acquired by the renowned film star.
Singh expressed his enthusiasm, stating, “I am pleased to come on board as the face and co-owner of Bold Care. We are committed towards normalizing conversations about sexual health and wellness, a topic that traditionally comes with stigma and taboo. People, especially men, are misinformed and shy to seek help.”
This venture marks Singh’s second startup investment following his involvement with the direct-to-consumer brand SUGAR Cosmetics. His wife and fellow actor, Deepika Padukone, is also active in the startup investment space, holding stakes in various ventures such as Furlenco, Epigami, Blu Smart, and Bellatrix Aerospace.
Singh emphasized the need for more openness and acceptance regarding sexual health and wellness in Indian society. He previously endorsed a condom brand early in his career and now sees this investment as a significant step towards addressing societal needs. “We are probably one of the most sexually active societies in the world. This needs to be done,” he commented.
Bold Care, established in 2021, has achieved an annual recurring revenue of Rs 40 crore and has sold over 3 lakh units of condoms within its first 10 months, processing more than 15 lakh orders.
CEO Rajat Jadhav expressed immense satisfaction with Singh’s involvement, stating, “We have announced Ranveer (Singh) as the co-owner at Bold Care. His involvement over the past year has been nothing short of incredible, deeply engaging in every facet of our business. This is going to be an iconic partnership.”
Jadhav highlighted the startup’s mission to normalize conversations surrounding men’s health, particularly sexual health, noting Singh’s passionate alignment with this vision from the project’s inception.
Significance of the Investment
The investment by Bollywood actor Ranveer Singh in Bold Care holds significant importance for several reasons:
Celebrity Endorsement and Visibility
Singh’s involvement as a co-owner and face of Bold Care brings immense visibility to the startup. His celebrity status and influence can help normalize discussions around sexual health, breaking societal taboos and encouraging more open conversations on a critical but often overlooked aspect of well-being.
Addressing Stigma
Sexual health remains a sensitive and stigmatized topic in many societies, including India. Singh’s commitment to normalizing conversations about sexual health and wellness helps combat the stigma attached to discussing these issues openly. This investment signifies a step towards breaking societal barriers and fostering a more accepting environment.
Market Penetration and Consumer Awareness
Singh’s association with Bold Care could significantly impact consumer awareness and market penetration. His previous endorsement of a condom brand and now his co-ownership with Bold Care underscores his genuine interest and commitment to this cause. This could lead to increased product awareness and acceptance among consumers.
Entrepreneurial Influence
With Bollywood figures like Singh actively investing in startups, it promotes an entrepreneurial spirit within the entertainment industry. It sets an example for others, encouraging them to diversify their portfolios, support innovative ventures, and contribute to societal well-being beyond their primary profession.
Business Growth and Development
Singh’s engagement and deep involvement in Bold Care’s operations signal a hands-on approach that could potentially drive strategic business decisions and enhance the company’s growth trajectory. His commitment might attract more resources, talent, and partnerships beneficial for the startup’s expansion.
