Additionally, Yogic Secrets raised an undisclosed amount of strategic funding from the family office of Lotus Herbals
The development comes less than a month after Lotus Herbals infused $220K in TV Actor Anita Hassanandani’s D2C startup Better Beauty
The Gurugram-based startup will use the funds to scale up India operations and enter overseas markets, including the US, the UK and Australia, among others
Lotus Herbals has acquired 20% stakes in nutraceutical startup Yogic Secrets. Following the acquisition deal, the startup has raised an undisclosed amount of strategic funding from the family office of Lotus Herbals.
The development comes less than a month after Lotus Herbals infused $220Ko in TV Actress Anita Hassanandani’s D2C startup Better Beauty.
Besides, in October, Lotus Herbals backed clean beauty marketplace Vanity Wagon; while in January, the cosmetic brand acquired 25% stake in Conscious Chemist.
Further, Lotus Herbals’ portfolio includes Fixderma India, owner of Fixderma and FCL and SoulTree.
Founded in 2018 by Dr Anil Khandelwal, Yogic Secrets sells various nutraceutical products such as immunity boosters, respiratory and lung detox and anti-inflammatory immune boosters, among others from its website.
Yogic Secrets’ nutraceutical products claim to improve consumers’ well-being, manage lifestyle disorders and slow down the progression of chronic ailments.
“We trust Yogic Secrets’ product portfolio, which amalgamates the best of tradition and science, much like our beauty and wellness ethics. Dr. Anil and his team of scientists, seasoned doctors and expert nutritionists bring cutting-edge scientific research and clinically validated products to consumers,” said Nitin Passi, chairman and managing director of Lotus Herbals.
Yogic Secrets asserts that its products are made using cGMP (current Good Manufacturing Practice) licensed manufacturing facilities.
The Gurugram-based startup plans to use the funds to scale operations in India and enter international markets including the USA, UK and Australia, among others.
The startup also said that it has filed two patents for its products that help support joint health, flexibility, and gut health.
According to the startup, India’s herbal sector will contribute to about 30% of the country’s nutraceuticals supplements market in the coming future.
As per a report, the global nutraceuticals market was pegged at $417.66 Bn in 2020. The industry is set to grow at a CAGR of 8.9% by 2028.
While, an ASSOCHAM’s report stated that the Indian nutraceuticals market will become a $18 Bn space by 2026. It further informed that the country’s nutraceuticals industry will grow at a CAGR of 35% between 2017 and 2016.
9Unicorns-backed Power Gummies, Varun Dhawan-backed Fast&Up, and MSSVF-backed True Elements are some of the Indian startups operating in the nutraceutical sector.