[Funding Alert] Wellbeing Nutrition Bags $10 mn in Series B Funding from HUL and Fireside Ventures

Wellbeing Nutrition (Nutritionalab Pvt. Ltd.), a science-backed, all-natural D2C vitamin firm, has raised $10 (85 crore) million in a Series B spherical led by Hindustan Unilever Limited (HUL) and Fireside Ventures.

Founded in 2019, Wellbeing Nutrition has pioneered disruptive codecs in science-backed, benefit-led clear merchandise in Health and Wellbeing. Its product vary consists of Melts (Oral Thin Strips), Slow (Slow-Release 2-in-1 capsules with beadlet in oil know-how), Korean Marine Collagen peptides for magnificence, Daily Fiber for digestion, and Vegan Protein for health and on a regular basis well being. They have a presence in D2C, and digital marketplaces and are increasing in offline retail channels to over 5000+ retail touchpoints.

The present Wellbeing Nutrition workforce led by Avnish Chhabria and Saurabh Kapoor will proceed to function all features of the enterprise. HUL and Fireside Ventures might be represented on the Board.

In the final 1 yr, income grew at 201 p.c CAGR between FY19 and FY22. Wellbeing Nutrition has scaled operations to over 3000+ shops throughout India With the brand new spherical, they goal to launch and lengthen the product classes, construct a senior administration workforce and strengthen their knowledgeable channel community, together with strengthening their R&D in addition to attaining excessive retention numbers for progress.

Avnish Chhabria and Saurabh Kapoor of Wellbeing Nutrition mentioned, “We are very excited to welcome Hindustan Unilever as a strategic Investor. Fireside Ventures continued backing and additional funding have been a terrific encouragement. Along with each these titans, we’ll additional our mission to make clear vitamin accessible to shoppers all around the world on the again of progressive merchandise, comparable to Melts, Slow, Collagen, and Protein, formulated utilizing high-quality and globally-sourced pure substances. With the brand new funding, we goal to achieve 100 million individuals over the subsequent yr by driving consciousness by means of digital aggressively, as effectively by making use of HUL’s capabilities. We consider this partnership will assist scale Wellbeing Nutrition and change into a life-style wellness model of selection for all.”

Ritesh Tiwari, CFO, HUL, mentioned, “HUL has a profitable monitor file of constructing classes by means of market improvement. We are excited to work with the founding father of Wellbeing Nutrition to develop the companies additional by leveraging our complementary experience and capabilities.” 

Kannan Sitaram, Fireside Ventures, mentioned, ” It has been an incredible journey for us with Wellbeing over the past yr and a half. The enterprise has grown quickly underneath Avnish’s stewardship. All due to the new-to-market improvements each on merchandise and channels, creating speedy shopper engagement. We are excited by how the partnership with HUL can construct on this tradition of innovation and create monumental potential for progress.“