Direct-to-consumer retailer Nutrabay raised $5 million in Series A funding led by RPSG Capital Ventures and Kotak Alternate Asset Managers Limited. Gurugram-based business receives its first institutional funding.
Nutrabay claimed in a press release that the funds will expand omni-channel and boost product innovation.
Nutrabay, created in 2017 by Sharad, Shreyans, and Divya Prakash Jain, is a direct-to-consumer multi-brand retail store with over 100 brands and its own private label items. Both its D2C website, all major eCommerce sites, and offline supplement stores provide private label brand products.
Three segments currently comprise the market: sports nutrition; vitamins, minerals, and supplements; and health food and beverages.
The market, which ended the previous fiscal year with net revenue of Rs 99 crore, hopes to generate Rs 140 crore this one as well.
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There are currently 150 brands and 2 private labels available to customers on the marketplace. By the end of the current fiscal year, it intends to add fifty more brands.
Market study predicts the Indian nutritional supplements market would reach $28.70 billion by 2032, growing 10.7%.They wants to create a horizontal brand for sports nutrition, VMS, and health food & drinks.
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Recently, Nutrabay has also expanded into the offline market by setting up shop at a few hyper specialized stores.
Company states it has over 70 goods and grew 80% in FY24 over FY23. Over 50 new goods are planned for the following fiscal year.
About Nutrabay
Nutrabay, India’s trusted and fastest-growing nutrition and online supplement store, sells health, wellness, fitness, and bodybuilding items.
