New Delhi-based direct-to-consumer (D2C) sports nutrition marketplace Nutrabay has raised $5 million in a Series A funding round at a valuation of approximately $25 million.
The round was led by RPSG Capital Ventures, with participation from Kotak Alternate Asset Managers Limited.
Omnichannel expansion plans
The startup plans to use the funds to expand its omnichannel presence and accelerate new product innovation.
According to Nutrabay Founder and CEO Shreyans Jain, the capital raised would be crucial to expand the brand’s presence across multiple retail channels.
“We will use these funds to expand our presence in modern retail stores, general retail stores and super specialty stores nationwide,” Jain said.
In addition to physical expansion, Nutrabay will also focus on enhancing its digital presence by entering new channels such as express commerce and improving technology for better customer interaction.
Nutrabay Product Portfolio
Founded in 2017 by Shreyans Jain, Divay Jain and Sharad Jain, Nutrabay currently operates across three core categories: Sports Nutrition, Vitamins, Minerals and Supplements (VMS), and Health Foods and Beverages.
The startup houses over 100 brands along with its private label products, which are sold on its D2C website, e-commerce platforms, and offline retail stores.
Recently, it has ventured into the offline space with a presence in some super-specialty stores.
Comments from the leaders
“We are delighted to have the support of RPSG and Kotak PE and are excited to leverage this partnership to drive our next phase of growth. We are committed to offering high-quality products at an affordable price point to make the brand accessible to all enthusiasts across all consumer segments,” said Shreyans Jain, Founder and CEO, Nutrabay.
“We have a strong belief in nutrition, health and wellness as a space and have always backed companies in this category such as Plix and True Elements. Nutrabay has demonstrated impressive growth and a strong commitment to product quality. We believe in their vision and are excited to partner with them as they continue to revolutionize the sports nutrition market in India,” said Abhishek Goenka, Managing Partner, RPSG Capital Ventures.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.