BENGALURU: Wellbeing Nutrition, a whole-food diet firm that makes use of plant-based elements to ship wellness to people, has raised $2.2 million in a Series A spherical led by Fireside Ventures.
ACG, an built-in options supplier for pharmaceutical and nutraceutical industries, additionally participated within the spherical.
The firm mentioned it would use the funds to strengthen analysis and growth and create the following technology of nutraceuticals or diet which can depend on superior nano expertise, delayed launch expertise and sustainability to launch merchandise, purchase expertise, and create higher attain.
Kannan Sitaram, Venture Partner at Fireside Ventures, will be part of the corporate’s board.
The two-year outdated startup was based by Avnish Chhabria, who needed to offer natural, non-genetically modified nutritional vitamins and minerals that aren’t chemically synthesized.
The diet market has proven robust progress that accelerated as a result of pandemic. Customers have grow to be exceedingly cautious about their well being and there’s heightened consciousness of the necessity for clear, plant-based supplementation, the corporate mentioned.
Wellbeing has retail presence throughout 600 shops in India whereas additionally opening up a big export alternative with gross sales to markets like United Arab Emirates, the UK, Germany and the US.
Sitaram of Fireside Ventures mentioned, “…The dietary dietary supplements house is attracting a variety of curiosity from millennial customers who’re making thought-about decisions on what they eat and the way they give the impression of being after their bodily and psychological well being and we at Fireside consider that Avnish and his workforce at Wellbeing Nutrition are making a model that will likely be one of many leaders on this space…”
MGB Advisors acted as unique advisor to Wellbeing Nutrition on the fund-raise.
“Nutraceutical and dietary dietary supplements house has witnessed unprecedented progress submit the pandemic. We noticed a rise in demand for our revolutionary and thoroughly designed research-driven merchandise. As we enter the following section of progress and innovation, we look ahead to benefitting from Fireside and ACG’s pedigree, collective expertise, and assets in serving to us scale,” mentioned Avnish Chhabria, founder, Wellbeing Nutrition.
Karan Singh, MD, ACG mentioned, “We are enthusiastic about this partnership, because the pandemic has introduced newer and elevated alternatives for the Nutraceutical business…By investing in and collaborating with start-ups which have the potential to make a distinction in folks’s lives, ACG is dedicated to taking part in its half in serving to make the world a more healthy place.”
In September 2020, Wellbeing Nutrition had raised a $400,000 angel spherical.
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