D2C brand Wellness Nutrition raises debt

Entrackr · 24d

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.