Wellbeing Nutrition, a whole food nutrition company that trusts plant-based ingredients to deliver wellness to individuals with fast-paced lives, has raised $2.2 million in a Series A round. The round has been led by Fireside Ventures and also seen participation from ACG, one of the world’s leading providers of integrated solutions for pharmaceutical and nutraceutical industries.
The funds will primarily be utilized to strengthen R&D and create the next generation of nutraceuticals which will rely on advanced nano Technology, delayed-release technology, and sustainability, to launch new products, acquire talent, and create better awareness and reach.
Kannan Sitaram, Venture Partner at Fireside Ventures will join the company’s board. Fireside is focused on investing in consumer start-ups and helping them become strong brands that people love. Its portfolio includes well-known new-age brands like boAt, Mamaearth, Vahdam, and Yogabar.
On the fundraising, Avnish Chhabria, Founder, Wellbeing Nutrition, stated, “Nutraceutical and dietary supplements space has witnessed unprecedented growth post the pandemic. We saw an increase in demand for our innovative and carefully designed research-driven products. As we enter the next phase of growth and innovation, we look forward to benefitting from Fireside and ACG’s pedigree, collective experience, and resources in helping us scale.”
Founded in 2019 by Avnish Chhabria, Wellbeing Nutrition was launched to provide organic, non-genetically modified vitamins and minerals that are not chemically synthesized. Wellbeing is a research-based wholefood nutrition company that uses plant-based ingredients to deliver wellness to individuals with fast-paced active lives. The products use research-driven formulations in innovative delivery formats that are proven to be more bioavailable, effective, and fast-acting compared to traditional formats like tablets and capsules.
Wellbeing, with a strong focus on research and clinical studies, has created a strong brand presence with customers wanting to choose organic and plant-based wellness alternatives to traditional lab-derived nutraceuticals. Wellbeing has grown 40 percent month-on-month with a strong retail presence across 600+ stores in India while also opening up a large export opportunity with sales to markets like UAE, UK, Germany, and USA. The brand is available on marketplaces including Amazon India and also has a strong D2C channel.
On the investment, Kannan Sitaram, Venture Partner at Fireside Ventures, said, “Healthy India is a big consumer theme and today's consumers want to invest in their everyday wellness. The nutritional supplements space is attracting a lot of interest from millennial consumers who are making considered choices on what they eat and how they look after their physical and mental health and we at Fireside believe that Avnish and his team at Wellbeing Nutrition are creating a brand that will be one of the leaders in this area. We value their focus on product innovation using high quality, organic ingredients which will drive rapid growth as consumers take their wellness into their own hands.”
MGB Advisors acted as exclusive advisors to Wellbeing Nutrition on the fundraising from Fireside and other investors.
In September 2020, Wellbeing Nutrition raised a $400k angel round.