Wellbeing Nutrition, one of India’s leading plant-based nutrition companies is looking to raise $8-10 million in funding this quarter. The brand has received interest from some of the leading VC funds and a few strategic investors globally.
The brand will be using these funds to scale operations, build a senior global team and increase manufacturing capacity with new facilities in the USA and India, along with strengthening its R&D and research team while also building new categories
The brand has expanded multi-fold since the last Series A fundraising of $ 2.2 million from Fireside Ventures in July 2021. Without any additional capital, its expected ARR is Rs 150 crore, unlike all its peers. Wellbeing Nutrition has achieved a milestone of break-even in March this year and moved towards 5 percent profitability since.
The brand in the last year has been able to reach out to close to 30 million audiences in the country with a 400 percent growth in net revenue over the previous year. The brand has already established a leadership position in the Melts Oral Thin Strips category already catering to a million plus consumers. To add to this the brand is already in the final stages to close some partnerships in the sports category along the lines of the Disney collaboration which consisted of Marvel and Frozen melts for Kids.
Avnish Chhabria, Founder said, “Ever since our inception, we have moved closer towards achieving new milestones. It makes us proud to be a homegrown brand that’s put India on the global map and is present in over 5 countries with 50+ variants. We are looking forward to the new funding and plan to use the funds for our expansion globally.”
Previously, celebrities and wellness enthusiasts like Mira Kapoor, Rakul Preet Singh, and Dulquer Salmaan have also invested in Wellbeing Nutrition.
“We are looking forward to the funding to scale operations, building a senior global team, and increase manufacturing capacity with new facilities in the USA and India, along with strengthening our R&D and research team globally, while also building new categories,” he added.
In the last 1 year Wellbeing Nutrition has scaled operations to over 3000+ stores across India and expanded its presence globally in the Middle East and North Africa (MENA) region, the Netherlands, the UK, and the USA.
“Our major aim is to expand ourselves globally. We're present in India, the Middle East, North Africa (MENA), the Netherlands, the UK, and the USA. In the next 5 years, we aim to be recognized across the nooks and corners of India as well as the world,” he concluded.