Nutrabay is a D2C startup that offers an online platform focused on nutritional supplements. The startup secured $5 million in its ongoing series A funding round led by RPSG Capital Venture. The maiden institutional funding round saw the participation of several new and existing investors including Kotak Alternate Asset Managers. These services, processing, and sales of nutritional supplements are the company’s primary sources of revenue.
The company plans to use these fresh proceeds to scale its production, increase customer reach, launch new products, enhance its platform, and expand its omnichannel services. The startup provides products directly from stores to the customers and operates as brand retail stores. The company focuses on developing its offline presence by housing over 100 brand outlets and its private Label products. Nutrabay will be opening more brand outlets this financial year. The private label brand products are sold through D2C websites, offline supplement stores, and other e-commerce websites. The company aims to strengthen its quick-commerce presence and increase its product capability. The D2C retail brand intends to build horizontal brand across 3 categories: sports nutrition, health food & drinks, and VMS.
This D2C brand provides a variety of nutritional supplements including proteins, amino acids, creatine, multivitamins, herbs, and more. The company also offers body-building supplements, weight loss, and other wellness products. The brand serves in retail and hospitality tech market segments. The company claims to have 80 percent growth in FY24 and it houses over 70 products. The startup aims to launch over 50 new products to the portfolio by the next fiscal year. The startup aims to use this investment to expand its stores while developing a brand presence in the Indian market.
The startup data intelligence platform, the kredible mentioned that the company reported around 4.66 times increase in its operating revenue to Rs 89.53 crore in FY23. However, the losses also increased to Rs 5.8 lakh in the same duration. The development came when the D2C nutritional supplement market saw increased investor interest. Nutrabay faces competition from brands in the same market segment such as HyugaLife and HealthKart. The market research showed that the Indian nutritional supplements market is expected to grow at a CAGR of 10.7 percent. This sector is predicted to cross a valuation of 28.70 billion USD in the next 8 years.
Conclusion:
D2C nutritional supplement-providing startup, Nutrabay secured 5 million USD in its ongoing series A round from the RPSG Capital Venture with the participation of Kotak Alternate Asset Managers. The startup plans to use this fresh capital to scale its operations, meet general corporate purposes, and increase its omnichannel network. This investment will enable the firm to develop its brand presence. The company aims to launch over 0 new products in the portfolio by the end of the next financial year. The development came just after the Indian nutritional supplement sector saw increased investor interest. The D2C retail brand competes with other companies in the nutritional supplement market segment including Healthkart.
