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D2C health and nutrition startup Wellbeing Nutrition has received an undisclosed amount of funding from Bollywood personality, Mira Kapoor at a post-money valuation of INR 350 Cr.

The fresh capital will be used for business expansion and venturing into the kids’ category.

The investment follows Bollywood actor Rakul Preet Singh’s recent bet on Wellbeing Nutrition in April this year, following which, Singh also became a brand ambassador of the startup. 

Founded in 2019 by Avnish Chhabria, Wellbeing Nutrition provides vitamins and minerals supplements to customers. The startup sells products through its website and offline stores. It has more than 2,000 offline stores in India as well as over 5,000 offline stores in other countries, including the US, UK, UAE and Germany.

The startup claims to have a monthly recurring revenue (MRR) of INR 5 Cr and further aims to achieve an annual recurring revenue (ARR) of INR 100 Cr this fiscal year (2023).  

It is reported to have partnered with Disney to launch a series of organic vitamins, probiotics, and omega products for kids. 

In July 2021, the startup raised $2.2 Mn in its Series A funding round led by Fireside Ventures. Integrated pharma manufacturing solutions company, ACG also participated in the funding round. 

Prior to this, it raised a $400K angel round in September 2020. The round saw participation from angel investors such as RENEE Cosmetics’ Ashutosh Valani and Priyank Shah,  MX Player’s Nikhil Gandhi, Harsh Vardhan Bhandari, and Jeenendra Bhandari. 

The startup faces competition from Power Gummies, Aquatein, Chicnutrix, Fullife and Fast&Up.

Other Deals In The Indian Dietary Supplement Industry 

According to an EY report, the Indian dietary supplements market has grown at a CAGR of around 15% to reach INR 331 Bn in FY21. The segment, which is considered to have a high potential given the growing lifestyle diseases, has witnessed an accelerated adoption curve post the Covid-19. 

In February 2022, men’s health and wellness D2C startup, Bold Care raised an undisclosed amount of funding in its Pre-Series A round from Sharrp Ventures, Anthill Ventures, Stanford Angels & Entrepreneurs and Shiprocket. Existing investors NB Ventures and Huddle also participated in the round. 

In January this year, nutraceutical startup Power Gummies raised $6 Mn in a Series A funding round led by 9Unicorns.

Other investors such as Vcats, DSG Consumer Partners, WIPRO Consumers, Sharpp Ventures, and NB Ventures participated in the round.

In December last year, D2C nutraceutical brand Fast&Up secured an undisclosed amount of investment from Bollywood actor Varun Dhawan to enhance manufacturing capabilities and scale up globally and intends to enter newer categories.