Bengaluru-based healthtech startup Grow Fit has entered the functional beverages field with the acquisition of Drink King. The cash and stock deal was executed for an undisclosed consideration.
Post the acquisition, Grow Fit’s offerings will span areas including expert health advice, customised diet plans, therapeutic and functional foods, and nutritional beverages.
Commenting on the acquisition, Jyotsna Pattabiraman, CEO at Grow Fit said: “Grow Fit combines data science, medical science and behavioural insights to guide people to a healthier, happier version of themselves. We are the only mobile health solution that goes beyond giving advice to actual implementation. Our acquisition of Drink King augments our commitment to providing our 100,000 customers comprehensive and easy solutions for all their everyday health and wellness needs”.
Founded in 2015 by Ritvik Sharma and Arpit Goyal, Drink King is a nutritional beverage platform. It provides wholesome beverages that could serve as a quick meal while also fulfilling daily nutritional requirements. Catering to committed gym-goers, Drink King offers customised options for special regimes like detox, muscle gain and weight loss. Its beverages can be ordered via their app available on Android and iOS platform.
On the other hand, Grow Fit was founded in February 2016. It is backed by entrepreneurship platform GrowthStory. It consists of a group of nutritionists, food technologists, counsellors, technologists and product people who want to use the power of the mobile to make health a daily habit.
Grow Fit’s one-on-one chat-based coaching programme connects users all over India to experts in mental and physical health and covers areas such as sleep, skin and hair, nutrition and exercise. Besides physical health, Grow Fit also encompasses mental health through a separate app called Grow Self. In addition to the nutrition advice and customised diet plans, Grow Fit also offers fresh and packaged foods that helps users improve their health.
Analysts forecast the global meal replacement market to grow at a CAGR of 7.1% between 2016 -2020. According to a recent PWC report, India ranks among the top 10 global growth markets for nutrition F&B. With the fast-paced lives of today’s generation and increasing focus on preventive healthcare, the category is expected to only expand.
Prior to this development, in April 2016, wellness guru Deepak Chopra joined hands with former Nortel and Motorola executive Poonacha Machaiah to launch Jiyo, a health and wellness startup.
