Celebrities engaging with and investing in startups is not new. Amitabh Bachchan, one of the pioneers to have invested in an Indian startup, did so back in 2011, when he bet on Justdial. The trend peaked after the pandemic, as reported by The Captable. One such prominent name in the list of celebrities who has been frequently associated with startups is actor Shilpa Shetty.
The Mumbai-based actor first backed D2C unicorn MamaEarth (Honasa Consumers) in 2018, and again in 2022. Known for being an advocate of health and wellness, Shetty also invested in D2C nutrition supplement brand Chicnutrix, and sports nutrition brand Fast&Up in 2022. The same year, she also associated with Hunar Online Courses.
Last year, she invested in D2C healthy food brand WickedGup, as well as agritech startup KishanKonnect. Her recent engagements include an undisclosed investment in Nutrispray, a supplement sprays brand co-founded by pharmaceutical expert Arpit Save, and D2C health foods brand Alpino. Both brands have also roped in Shetty as their brand ambassador.
Infographic by Sharath Ravishankar, YourStory
On the sidelines of the launch of Nutrispray, YourStory caught up with Shetty to understand her investment philosophy.
“I feel there are a lot of products out there, these very small startups, that are doing some amazing work but don’t have the kind of funding. I kind of have this knack of sniffing them out…,” Shetty reveals.
But what’s the ‘it factor’ that helps her decide which company to back, we ask?
“I only invest in products or brands that I believe in. And also brands that sometimes need that little bit of push, in terms of awareness. If I could be a catalyst by leveraging my name, I’m more than happy to do that… I like people who have a certain goal and who are extremely passionate, whatever be the outcome, that is a later thing,” she explains.
Investing in Nutrispray
Shetty had a chance encounter with Nutrispray. It came at a time when her father-in-law, Bal Krishna Kundra, was dealing with health issues with his iron levels dropping.
“We had no idea what to do… But when he came down to India, it was he who discovered Nutrispray. He gave it a shot and his iron levels escalated from 9 to 11 (μmol/L) in a matter of 15 days, which is a huge compliment, and says a lot for the efficacy and for the way it is taken. We then hunted Arpit (Save) down,” Shetty tells YourStory.
With more than a decade of experience in nutrition and pharmaceutical brands, Co-founder Save brings in a nuanced approach to understanding the nutri-supplements market.
“We realised that there were three main issues—products did not provide the best efficacy, they had gastro side effects, and a lot of them present an unpleasant taste, which has to be masked by sugar. With these problems on hand, we wanted to create a product that brings innovation to consumers in the Indian market and thus, the inception of oral sprays,” Save explains.
Actor Shilpa Shetty, investor and brand ambassador of Nutrispray, along with Arpit Save, Co-founder of Nutrispray
With formulations developed to target challenges like iron deficiency and Vit C deficiency and provide immunity boosting and skin-enhancing benefits, Nutrispray delivers essential nutrients through easy-to-use oral sprays.
“They are more effective, easier to use, and have no gastro-side effects. We also have a lot of experience in masking the taste of products and have used it to make the experience pleasant with a palatable taste,” he adds.
According to Zion Market Research, the global oral spray market is projected to reach $497.82 million by 2030, up from $437.15 million in 2022, growing at a CAGR of 1.64%. However, the concept of oral sprays is still at a nascent stage in India.
Shetty is of the opinion that supplement sprays are the need of the hour, owing to their convenience and effectiveness.
“While I’m into the milieu of health and fitness, I believe that great health is a blessing. No matter how much you work out, supplementation is extremely important. You don’t get everything in your diet, and to kind of cover up for those dietary deficiencies, you need to have supplementation,” She says.
“While I used to take a lot of pills earlier—Omega-3, B-12, magnesium, Vit K2… Once you hit 40, when you’re going to get into perimenopause, and you are training, it’s very important to have the right amount of supplementation,” she advises.
Speaking of the challenges of introducing a new product in the Indian market, Save believes India to be a “very promising market”.
“Consumers are becoming very aware, and people, especially in the Tier I markets, are moving towards convenience. We are planning to educate consumers about oral sprays by conducting awareness programmes, and Shilpa brings a voice of trust.”
The article is for the purpose of information and not an endorsement. Consult a healthcare professional if you have health concerns or allergies.
