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D2C brand Wellness Nutrition raises debt

EntrackrEntrackr · 3m ago
D2C brand Wellness Nutrition raises debt
Medial

Wellbeing Nutrition, a D2C health & wellness startup, is raising Rs 25 crore (approximately $3 million) in debt funding led by pharma company ACG-Capsules with the participation of Maheshwari Investors Pvt Ltd, MGB Advisors, and Atmos Finance. The board at Wellbeing Nutrition passed a special resolution to issue 2,500 optionally convertible debentures (OCDs) at an issue price of Rs 1,00,000 each to raise Rs 25 crore or $3 million, its regulatory filing accessed from the Registrar of Companies (RoC) shows. ACG led the round with Rs 10 crore investment while Maheshwari Investors, MGB Advisors, and Atmos Finance will be contributing Rs 5 crore each. According to filings, the company will utilize these funds for general business operations, including capital and working capital expenditures. Founded by Avnish Chhabria, Wellbeing Nutrition is a whole-food nutrition company specializing in plant-based ingredients to promote overall wellness. Its product range includes solutions for daily wellness, sleep, headaches, gut health, hair loss, and skincare. According to startup data intelligence platform TheKredible, the D2C company has raised close to $14 million to date, including a $10 million Series B round raised from Fireside Ventures and Hindustan Unilever (HUL) in December 2022. For the fiscal year ended March 2024, Wellbeing Nutrition reported Rs 70 crore in operating revenue while incurring a loss of Rs 32 crore during the same period.

Related News

Oziva records flat growth under Hindustan Unilever in FY24

EntrackrEntrackr · 1y ago
Oziva records flat growth under Hindustan Unilever in FY24
Medial

D2C nutrition brand Oziva, which was acquired by FMCG giant Hindustan Unilever (HUL) in 2022, posted a flat scale during the fiscal year ending March 2024. Following a 20% decline in sales during FY23, the D2C nutrition brand posted a flat scale with a modest 4% increase to Rs 104 crore in FY24, the annual report of its parent company HUL shows. HUL said that Oziva recorded Rs 44 crore loss in the last fiscal year. In FY23, the firm registered a net profit of Rs 58.8 crore due to one-time gain of Rs 95.5 crore. However, if we exclude that other income, its losses stood at Rs 45.8 crore in FY23. This implies, Oziva’s scale and loss remained flat in the last financial year (FY24). It’s worth noting that it is the first full fiscal year for Oziva under Hindustan Unilever. The six-year-old D2C firm sells plant-based nutrition products for health, skin, hair, and general wellness. The sale of health and nutrition products was the sole revenue driver for the company. The company has raised around $17 million to date with the backing of Matrix Partners, Eight Road Ventures, and Stride Ventures. In December 2022, HUL acquired 51% stake in Oziva with the first tranche at a cash consideration of Rs 264.28 crore ($32 million). As per the annual report, Oziva was valued at Rs 361 crore ($43.5 million) using the multi-period excess earnings method. At the same time, HUL also acquired 19.8% of the stake in Wellbeing Nutrition for a cash consideration of Rs 70 crore. Founded by Avnish Chhabria, Wellbeing Nutrition is a whole-food nutrition company that uses plant-based ingredients to deliver wellness to individuals. The company is yet to disclose its FY24 results.

FitFeast raises Rs 5.5 Cr from IPV, ropes in Shane Watson and Axar Patel as investors

EntrackrEntrackr · 2d ago
FitFeast raises Rs 5.5 Cr from IPV, ropes in Shane Watson and Axar Patel as investors
Medial

Gurugram-based protein-focused nutrition brand FitFeast has raised Rs 5.5 crore ($642K) in a seed funding round led by Inflection Point Ventures (IPV). The round also included participation from notable investors such as Raghav Singhal (Swasthum Wellness), Santosh Govindaraju, and Aabhas Khanna. The fresh capital will be used to expand FitFeast’s digital presence through D2C, marketplaces, and quick commerce platforms, grow its leadership and marketing capabilities, strengthen distribution in metro and tier-I cities, and launch new products. Founded in 2021 by Aditya Poddar, FitFeast is a nutrition-first brand offering high-protein, flavour-rich snacks like protein chips, Malai Kulfi protein shakes, dessert-inspired bars, and nut butters. Its business model is primarily direct-to-consumer (D2C), supported by availability on platforms like Zepto, Amazon, Flipkart, and others, with deliveries made across 20,000 pin codes in India. The brand has gained significant visibility after being featured on Shark Tank India Season 4, and claims to have already sold over 10 million grams of protein. FitFeast is now backed by cricketing legends Shane Watson and Axar Patel, both of whom have joined as investors and brand ambassadors. With monthly revenues crossing Rs 50 lakh and recent 5x growth in four months, the company is scaling quickly through a combination of flavour innovation, digital presence, and strategic endorsements.

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