From humble beginnings to 2 lakh products: Healthmug’s rise as the AYUSH e-com giant

Anubhav Bansal is a visionary entrepreneur with a passion for research and a keen eye for innovation. Anubhav's fearlessness in the face of challenges led him to overcome his initial apprehension of sales. Transitioning to the role of Territory Sales Manager at Maruti, he acquired invaluable exposure and honed his skills. Furthering his education, Anubhav pursued an MBA in Marketing at IMT, Nagpur, where he discovered his natural aptitude for statistics. Mastering the subject, he even identified textbook errors by his college professors.

Dr Mohit Agarwal, on his parts, has unyielding belief in the immense possibilities of online pharmacies. With a wealth of experience in business development, nurturing industry relationships, and ensuring the delivery of top-notch healthcare services, Dr Mohit Agarwal plays a pivotal role in driving Healthmug's growth and empowering customers with convenient access to exceptional healthcare experiences. Speaking to BIZZ BUZZ exclusively, the entrepreneur duo and co-founders of Healthmug- Anubhav Bansal and Dr Mohit Agarwal, narrate their entrepreneurial journey and chart out their future growth path

* When did the Healthmug journey start? What was there at the back of your mind when you set out on the Healthmug journey?

We founded and floated Healthmug as an e-commerce marketplace in 2016. Our mission from the word ‘go’ has been to eliminate the gap between customers and the availability of AYUSH products, which include Ayurveda, Yoga, Unani, Siddha, and Homeopathy remedies.

How did the entrepreneurial journey begin?

One is a visionary entrepreneur with a passion for research and a keen eye for innovation. His journey began during his student years, where he astounded his peers by constructing an extraordinary 200 km/ltr mileage car from scratch during his second year. Eager to broaden his horizons, he joined Maruti as a Production Engineer, where he gained valuable insights into operations, contributing to Healthmug's exceptional cost-efficiency today. Merging his entrepreneurial spirit with his engineering background, Anubhav undertook diverse projects, from developing 3D printers to establishing successful online apparel businesses. His insatiable hunger for knowledge led him to independently acquire coding skills, enabling him to single-handedly create a cutting-edge platform for Future Point, his family business.

The other one is also an enterprising individual who embarked on his entrepreneurial journey at an early age. After the untimely loss of his father when he was just 17, he bravely assumed the responsibility of supporting his family. In 1997, he established Shivam Homoeo Pharmacy, defying the odds with no prior experience in medicine or business. Driven by determination, he acquired the art of business through hands-on experience.

While managing Shivam, Mohit pursued a B.Com degree from Delhi University, continuously expanding his knowledge base and nurturing his entrepreneurial spirit. As Shivam flourished, his passion for homoeopathy deepened, leading him to obtain a diploma from the Delhi Homeopathic Board. Seeking diversification, he ventured into the optical business, diligently learning the trade before successfully establishing Shivam Opticals.

Recognizing the rise of the internet and online marketplaces, he initially launched shivamhomeo.com, which, due to his limited technological expertise, did not achieve its full potential. However, Mohit's unyielding belief in the immense possibilities of online pharmacies led him to approach Anubhav. When Mohit approached Anubhav with the visionary concept of Healthmug that culminated in the birth of a remarkable healthcare venture.

How has been the journey so far?

We have been successful in creating a unique platform that connects customers, doctors, and sellers, bringing unconventional medicine within easy reach. Healthmug, at present, offers over 2 lakh products in the categories of health, nutrition, beauty, and personal care through its website and mobile application. The platform, a health e-commerce platform offering Ayurvedic, Homeopathy, and Unani medicine, is already known for offering the rarest products related to AYUSH at a reasonable price. The platform has also been offering free doctor consultations to its customers. We are happy that the platform is making waves in the world of natural healing and wellness.

What would you attribute Healthmug’s success story to?

At the heart of Healthmug's success is our commitment to offering the rarest and widest range of products at the best prices. We have successfully carved a niche for ourselves in the AYUSH segment, differentiating us from competitors such as Pharmeasy, Tata 1mg, and Healthkart. The team at Healthmug, comprising 75 dedicated professionals, has diligently expanded presence in Delhi, Bangalore, Kolkata, and Mumbai, ensuring that our warehouses and delivery services cover the entire nation in a time-bound manner.

You must have faced some challenges during this seven-year journey to reach where you are today. Could you please throw some of the key challenges faced by you during this period? Also, how did you overcome these?

Yes. Ofcourse. Healthmug faced immense challenges during the Covid pandemic. The demand for natural healing products skyrocketed, presenting logistical hurdles that were hard to overcome. However, the tenacious supply and procurement teams worked remotely, complying with government protocols to fulfil market demands. As the post-pandemic era unfolded, Healthmug navigated the shifting landscape of the online pharmaceutical business, adapting to increased competition while capitalizing on the lessons learned during the pandemic.

Mainly who all are your customers or what it your customers’ profile?

Healthmug's customer base spans across the length and breadth of the country, catering to individuals between the ages of 18 and 70, regardless of gender.

Why do your customers choose your products? What is your reading?

Our online platform provides easy accessibility and convenience, empowering customers to embark on their wellness journey with ease. With our unwavering commitment to excellence, we, at Healthmug, continue to redefine the e-commerce landscape, offering customers a gateway to a world of natural healing and wellness products. That is the reason why our customers keep coming back to us again and again.

So, what next? What are your future plans? How do you see Healtmug in the years to come?

Looking ahead, Healthmug envisions a future filled with strengthened relationships. Our aim is to forge connections with brands, wholesalers, doctors, and retailers, expanding their network and product range. Healthmug is actively seeking engagement with potential investors to fuel their growth trajectory and ensure they remain at the forefront of the industry.