Founded in 2022 by Sachin Goel and Dheeraj Nagpal, the Delhi NCR-based startup offers health and wellness products such as natural supplements
Zingavita said in a statement that the funding will be used for its expansion into new product development focusing on targeted nutrition
It operates via omnichannel mode and its products are available on ecommerce platforms including Amazon, Flipkart. Tata 1Mg, among others.
Health and wellness startup Zingavita has raised INR 10 Cr (around $1.2 Mn) in its pre-Series A funding round led by Anicut Capital.
The round also saw participation from angel investors including BionPharma CEO Venka Krishnan, True Elements founder Puru Gupta and Grant Thorton CEO Vishesh Chandiok, among others.
Zingavita will use the fresh capital for its expansion into new product development focusing on targeted nutrition. Besides, the proceeds will be deployed to fuel the brand’s entry into the premium ayurvedic supplement space.
Founded in 2022 by Sachin Goel and Dheeraj Nagpal, the Delhi NCR-based startup offers health and wellness products such as natural supplements. It operates via omnichannel mode and its products are available on ecommerce platforms including Amazon and Flipkart, Tata 1Mg, among others.
Goel said, “…this funding will enable us to accelerate our innovation cycle and meet our growth milestones in order to continue delivering on our promise of holistic nutrition for the entire family.”
“This funding will propel us to new heights, enabling us to innovate, expand, and continue offering cutting-edge products that cater to the evolving needs of our discerning customers,” Nagpal added.
Zingavit said that it will continue to focus on the development of products that are devoid of additives like sugar, preservatives, artificial colours & flavours and thereby, bring transparency, innovation, and efficacy to the market.
The startup directly competes with the likes of Power Gummies, Plix, Wellbeing Nutrition, Fitspire, Celevida Wellness, What’s Up Wellness, among others.
India’s health and wellness space has been gaining a lot of traction from investors for quite some time now.
For instance, last year in August, What’s Up Wellness bagged raised INR 14.40 Cr ($ 1.7 Mn) from Unilever Ventures to increase its team size and develop new products.
Also, Fitspire secured an undisclosed amount of funding last year, to expand its geographic reach in India and around the world, introduce additional products and establish new revenue streams.
According to a market study, the Indian dietary supplements market size pegged about $2 Bn in 2023 which is expected to grow to about $6 Bn by 2032 at 13.49% CAGR.
