Nutrabay Bags $5 Mn To Tap On Supplement Offerings

SUMMARY

The fresh funds will be used for its omni-channel expansion and to ramp up its new product innovation.

Founded in 2017 by Divay Jain, Sharad Jain and Shreyans Jain, Nutrabay sells a range of supplements for more than 100 brands and its private label products

Nutrabay claimed to have logged an 80% yearly growth in FY24 over FY23

D2C nutrition startup Nutrabay has raised $5 Mn in a Pre-Series A funding round led by RPSG Capital Ventures, along with participation from existing investors, including Kotak Alternate Asset Managers Limited among others.

The fresh funds will be used for its omni-channel expansion and to ramp up its new product innovation.

Founded in 2017 by Divay Jain, Sharad Jain and Shreyans Jain, Nutrabay sells a range of supplements for more than 100 brands and its private label products.

These supplements include whey protein powders, vitamins, gainers, creatine, vitamins, BCAAs and Ayurveda, among others.

Nutrabay claims to have over 70 private label products which are sold across its D2C website, all major eCommerce websites and offline supplement stores.

“ We are committed to providing high quality products, at an affordable pricing to make the brand accessible to all enthusiasts across all consumer segments,” Shreyans Jain said.

RPSG Capital Ventures’s managing partner Abhishek Goenka said, “We have strong conviction in nutrition, health and wellness as a space and have constantly backed companies in this category such as Plix and True Elements. We have seen sports nutrition growing beyond metros and a high incoming demand from tier 2 and beyond markets as well.

Nutrabay claimed to have logged an 80% yearly growth in FY24 over FY23.

The startup competes against the likes of supplement startups like OZiva, BoldFit, HealthKart, among others.

The health and wellness segment was traditionally dominated by brands like Amway, Cipla, Herbalife, and Himalaya Wellness. The market has recently seen a rise in startups such as OZiva, MuscleBlaze, Cureveda, Wellbeing Nutrition, What’s Up Wellness and more.

Post-pandemic, the health and wellness narrative has fuelled a surge in demand for these nutraceuticals and dietary supplements in the country.

As a result, these startups have collectively raised over $70 Mn+.

According to the ministry of food processing industries, the dietary supplements market in India is likely to reach $10.2 Bn by 2026, clocking a 22% YoY growth rate since 2020, when it was valued at $3.9 Bn.