Without disclosing the investment amount, Hoop said that PV Sindhu will also become a brand ambassador for the startup
Founded in 2022, the startup sells pain relief, muscle recovery and sleep support products like sprays and roll ons
Hoop was a part of the second cohort of the Sequoia Spark, and counts the likes of Suhail Sameer and Shantanu Deshpande among its backers
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Making another investment in the Indian startup ecosystem, Olympian PV Sindhu has backed D2C wellness brand Hoop.
Without disclosing the investment amount, Hoop said in a statement that Sindhu will also become a brand ambassador for the startup.
Founded in 2022 by ex-McKinsey consultants Twinkle Uppal and Saharsh Agarwal, the startup sells pain relief, muscle recovery and sleep support products like sprays and roll ons. It sells the products via its website as well as ecommerce marketplaces like Amazon and Flipkart.
Hoop was a part of Peak XV Partners’ (erstwhile Sequoia India and Southeast Asia) second cohort of the Sequoia Spark fellowship programme. As part of this, it received an equity-free grant of $100K, along with mentorship support, in January 2023.
Besides, the startup is backed by notable angel investors like OYO COO Abhinav Sinha, Swiggy’s food marketplace CEO Rohit Kapoor, former BharatPe CEO Suhail Sameer, Bombay Shaving Company founder Shantanu Deshpande, and Dr Vaidya’s founder Arjun Vaidya.
Speaking to Inc42 about the startup’s journey, Uppal said the cofounders felt that there was a dearth of feasible solutions catering to exercise-related injuries, despite their growing prevalence.
Before launching the products in the market in October 2023, the cofounders claim to have spent 18 months on research and development. Hoop claims it currently has a user base of over 50K across 1,000+ cities in the country.
Commenting on her investment, Sindhu said, “Pain is a part of my daily life but I don’t see it as a bad thing. I love how hoop positions pain relief and muscle recovery as ways to self-care rather than something to be afraid of. I am excited to introduce Hoop products not just to athletes but to everyone trying to be active.”
The investment comes just a month after Sindhu backed agritech startup Greenday’s FMCG brand Better Nutrition. With improving internet penetration and access to smartphones, a number of D2C brands have emerged in the country, across sectors, over the last few years. The country’s D2C market is expected to reach a size of $100 Bn by 2025.
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