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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.

DrinkPrime raises $3 Mn from SIDBI Ventures

EntrackrEntrackr · 1y ago
DrinkPrime raises $3 Mn from SIDBI Ventures
Medial

DrinkPrime, a subscription-based reverse osmosis (RO) water supplying startup, has raised $3 million from SIDBI Venture Capital Ltd. (SVCL), an investment management company and a wholly owned subsidiary of SIDBI. The Bengaluru-based startup had raised Rs 60 crore ($7.5 million) in a mix of equity and debt round led by Omidyar Network India, others in July 2022. Prior to that, it raised around Rs 21 crore in its pre-series A round led by Peak XV’s Surge in August 2021. Founded in 2016 by Vijender Reddy and Manas Ranjan Hota, DrinkPrime works towards enabling access to clean drinking water with Internet-of-Things (IoT)-enabled customised water purifiers on subscription to users. DrinkPrime currently provides clean drinking water access to over 2 lakh families across seven cities in India. With further expansion plans, DrinkPrime is also gearing up for its Series B fundraise. According to startup data intelligence platform, TheKredible, DrinkPrime reported an operating revenue of Rs 28.94 crore with a loss of Rs 27 crore in FY23. In the subscription model, DrinkPrime competes with Livpure, Acquaguard and ZunPure.

Nutrition brand Earthful raises seed round

EntrackrEntrackr · 4m ago
Nutrition brand Earthful raises seed round
Medial

Nutrition brand Earthful raises seed round Plant-based nutrition brand Earthful has raised Rs 5 crore in a seed funding round led by Srinivasan Namala. The Company has raised over $1 million till date in funding including the current investment. The funds will be deployed for research and development of new products and strengthening brand presence, Earthful said in a press release. Co-founded in 2020 by Veda Gogineni and Sai Sudha G., Earthful is a clean, plant-based nutrition brand dedicated to offering 100% natural supplements, free from chemicals and additives. The company focuses on science-backed formulations and provides multivitamins designed to fill daily nutrition gaps across different age groups, along with targeted solutions for Skin, Hair, Sleep, and PCOS. The product range includes plant-based proteins and a junk free, natural Kids’ chocolaty milk mix powder. The Hyderabad based company states that it creates a 100% natural supplement specifically designed for menopausal women. It claims to have 1 lakh customers and 70-80% of sales coming directly from its website. The company’s products are also available on major e-commerce and quick-commerce platforms like Amazon, Flipkart, and Swiggy Instamart. Rooted in science and powered by nature, it aims to redefine everyday nutrition making it clean, effective, and accessible to all. According to Earthful, it has recently launched Japanese Matcha, Coffee Mocha protein flavors, all completely natural and free from additives and preservatives. The company has also introduced a Kids’ Milk Mix powder, a nutritious blend of millets, plant-based protein, calcium, and Vitamin D3 made with real cocoa. In the last 12 months, Earthful says that it has witnessed 3x growth, reaching over 1 lakh customers with a strong 40-50% repeat purchase rate and currently at Rs 15 crore annual revenue run rate. The company is also set to expand into offline retail, making its products more accessible to consumers across India. It competes with the other major brands in this space such as Herbalife, Himalaya, Nutrilite, Dabur, amongst others.

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