Wellbeing Nutrition (Nutritionalab Pvt. Ltd.), a D2C nutrition company, has raised $10 or around ₹85 crore million in a Series B round led by Hindustan Unilever Limited (HUL) and Fireside Ventures.
It offers a range of nutraceuticals, organic and non-genetically modified vitamins, and minerals such as 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.
Avnish Chhabria & Saurabh Kapoor of Wellbeing Nutrition said the company is excited to welcome Hindustan Unilever as a strategic Investor. “With the new funding, we aim to reach 100 million people over the next year by driving awareness through digital aggressively, as well as making use of HUL’s capabilities. We believe this partnership will help scale Wellbeing Nutrition and become a lifestyle wellness brand of choice for all,” they said in a statement.
Ritesh Tiwari, HUL’s chief financial officer, said the conglomerate had a track record of building categories through market development. “We are excited to work with the founders of Wellbeing Nutrition to grow the businesses further by leveraging our complementary expertise and capabilities.”
VS Kannan Sitaram, partner at Fireside Ventures, said, “ It has been an amazing journey for us with Wellbeing over the last year and a half. We are excited by how the partnership with HUL can build on this culture of innovation and create enormous potential for growth.”
Between FY19 and FY22, its revenue increased by 201 percent at a compounded annual growth rate. According to the company, it has also expanded its operations to over 3,000 stores across the country.