September 2, 2024: Nutrabay, which claims to be an authentic supplement store online has raised Series A funding of $5 million to fulfill its plans to add over 50 new products to the portfolio by the next financial year.
The D2C brand furthermore, aims to expand its omni-channel expansion and to ramp up new product innovation.
The plans include building one large horizontal brand that spans across three pillar categories of Sports Nutrition, VMS, and Health Food & Drinks.
Nutrabay records impressive growth
“We have strong conviction in nutrition, health, and wellness as a space and have constantly backed companies in this category such as Plix and True Elements. We have seen sports nutrition growing beyond metros and a high incoming demand from Tier II and beyond markets as well. Nutrabay has demonstrated impressive growth and a strong commitment towards product quality.” Abhishek Goenka, Managing Partner at RPSG Capital Ventures, said.
Nutrabay, co-founded by Sharad Jain, Shreyans Jain, and DivayPrakash Jain, currently operates as a multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. Its private label presently boasts over 70 products and saw 80% growth in FY24 over FY23, they are sold across its D2C website, all major ecommerce websites and offline supplement stores.
The latest funding round was led by RPSG Capital Ventures, with participation from Kotak Alternate Asset Managers Limited. This marks the first ever institutional round of funding since the company’s inception in 2017.
