D2C nutrition brand Wellbeing Nutrition raises $10 million in funding led by Hindustan Unilever

• Founded in 2019, Wellbeing Nutrition is a D2C nutraceutical company with a presence in D2C, digital marketplaces and offline retail channels.
  
• It offers a range of nutraceuticals, organic as well as non-genetically modified vitamins and minerals.
  
• The company aims to make nutrition related products accessible all over the world.
  

Direct-to-consumer nutraceutical company Wellbeing Nutrition has raised $10 million or ₹85 crore in its Series-B round of funding led by Hindustan Unilever Limited (HUL) and Fireside Ventures. Both HUL and Fireside will be represented on the board.

Founded in 2019 by Avnish Chhabria, Wellbeing Nutrition offers a range of nutraceuticals, organic as well as non-genetically modified vitamins and minerals like Melts (Oral Thin Strips), Slow (Slow-Release 2-in-1 capsules with beadlet in oil technology) Korean Marine Collagen peptides for beauty, Daily Fiber for digestion and Vegan Protein for fitness and everyday health.

“We are excited by how the partnership with HUL can build on this culture of innovation and create enormous potential for growth,” said Kannan Sitaram – Fireside Ventures.

With the new funds, the wellbeing startup aims to launch and extend its product categories, strengthen its expert channel network, and strengthen its R&D, said the company.

“We will further our mission to make clean nutrition accessible to consumers all over the world on the back of innovative products. With the new funding, we aim to reach 100 million people over the next year by driving awareness through digital aggressively,” said Chhabria and Kapoor.

The company saw its revenue grow at 201% CAGR between FY19 and FY22 and claims to have scaled operations to 3000 plus stores across India. The company currently has a presence in D2C, digital marketplaces and is expanding in offline retail channels to over 5000 retail touch points.

SEE ALSO:
PharmEasy falls into difficult times, lays off employees for the second time this year
Mid-range, premium housing demand drive India’s residential market - Sales in 2022 to exceed 2014 peak