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D2C retail brand Nutrabay raises $5 Mn in Series A

EntrackrEntrackr · 11m ago
D2C retail brand Nutrabay raises $5 Mn in Series A
Medial

Direct-to-consumer retail brand Nutrabay has secured $5 million in Series A funding round led by RPSG Capital Ventures along with participation from Kotak Alternate Asset Managers Limited. This is the maiden institutional funding round for the Gurugram-based company. The proceeds will be used for the omni-channel expansion and ramp up new product innovation, Nutrabay said in a press release. Co-founded in 2017 by Sharad Jain, Shreyans Jain, And Divya Prakash Jain, Nutrabayoperates as a direct-to-consumer multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. The private label brand products are sold across its D2C website, all major eCommerce websites and offline supplement stores. According to market research, the Indian nutritional supplements market is expected to hit a valuation of $28.70 billion by 2032, at 10.7% CAGR growth. Nutrabay aims to build one large horizontal brand that spans across 3 pillar categories of sports nutrition, VMS and health food & drinks. The company says that it currently houses over 70 products and saw 80% growth in FY24 over FY23. It intends to add over 50 new products to the portfolio by the next financial year. As per startup data intelligence platform TheKredible, Nutrabay saw 4.66X revenue growth in its operating revenue to Rs 89.53 crore in FY23 from Rs 19.24 crore in FY22. Its losses increased to Rs 5.8 lakh in FY23 from a profit of Rs 32.41 lakh in FY22. Nutrabay competes with HealthKart, Optimum Nutrition, My Protein, and MuscleBlaze, among others in the category.

Chai Kings bags $3 Mn in Series A round

EntrackrEntrackr · 4m ago
Chai Kings bags $3 Mn in Series A round
Medial

Snippets Chai Kings bags $3 Mn in Series A round Chennai-based chai retail chain Chai Kings has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT). Chennai-based chai retail chain Chai Kings has raised $3 million (Rs 24 crore) in its Series A funding round from A.V. Thomas and Co. (AVT). Earlier in January 2020, the tea brand had raised $1 million in its seed round from Chennai Angels (TCA), Hyderabad Angels and TiE India Angels. As part of this round, The Chennai Angels (TCA) are making a partial exit with substantial returns. The proceeds will be used to accelerate its expansion plans, enhance its product offerings, and further strengthen its supply chain. It will also be used in customer engagement and operational efficiencies. Founded by Jahabar Sadique and Balaji Sadagopan, Chai Kings offers a premium and hygienic chai experience, serving a diverse range of tea blends with a focus on quality, sustainability, and customer delight. Since its inception in 2016, Chai Kings claims to have operated 57 stores across Chennai, Hyderabad, and Coimbatore. The brand is known for its quality tea offerings, sustainable packaging, and customer-centric approach. Chai Kings claims that it will close FY25 with a revenue of Rs 48 crore with a positive EBITDA. The firm has plans to double its revenue over the next two years while maintaining profitability.

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