Wellbeing Nutrition Secures $10 Mn In Series B Led By HUL

Wellbeing Nutrition, a Mumbai-based direct to consumer Nutraceutical company, has raised USD 10 million in a Series B round led by Hindustan Unilever Ltd (HUL) and Fireside Ventures.

With the latest round, Wellbeing Nutrition plans to launch and extend the product categories, build a senior management team and strengthen its expert channel network and R&D, the company said in a statement. 

Along with both these titans, we will further our mission to make clean nutrition accessible to consumers all over the world on the back of innovative products formulated using high-quality and globally-sourced natural ingredients, said Avnish Chhabria, Founder and CEO of Wellbeing Nutrition. "With the new funding, we aim to reach 100 million people over the next year by driving awareness through digital aggressively, as well as making use of HUL’s capabilities,” Chhabria added.

According to Ritesh Tiwari, CFO of HUL, “HUL has a successful track record of building categories through market development. We are excited to work with the founder of Wellbeing Nutrition to grow the businesses further by leveraging our complimentary expertise and capabilities.”

Meanwhile, Wellbeing Nutrition’s revenue rose 201 per cent at a compounded annual growth rate between FY19 and FY 2022. The company, which has presence in D2C and online market places, is expanding its offline channels to over 5000 retail touch points. 

Founded in 2019, Wellbeing Nutrition retails a range of nutraceuticals, organic and non-genetically modified vitamins, and minerals like melts (Oral Thin Strips), slow (slow-release 2-in-1 capsules with beadlet in oil technology), Korean marine collagen peptides for beauty, daily fiber for digestion and vegan protein for fitness and everyday health.