Nutrabay, a direct-to-consumer nutrition startup based in India, has secured $5m in a Series A funding round to accelerate its omni-channel expansion.
The funding round was led by RPSG Capital Ventures, with additional support from existing investors, including Kotak Alternate Asset Managers.
The newly raised capital will be used to enhance Nutrabay’s product innovation.
Founded in 2017, the nutrition startup offers a range of supplements from over 100 brands, alongside its private label products. Its offerings include whey protein powders, vitamins, creatine, gainers, BCAAs, and Ayurveda supplements, among others.
Currently, Nutrabay claims to have more than 70 private label products, which are available through its direct-to-consumer website, major eCommerce platforms, and offline supplement stores.
Nutrabay founder Shreyans Jain said: “We are committed to providing high quality products, at an affordable pricing to make the brand accessible to all enthusiasts across all consumer segments.”
The firm reported an 80% year-over-year growth in FY24 compared to FY23.
It faces competition from other supplement brands such as OZiva, BoldFit, and HealthKart, reported Inc42. The health and wellness sector was once led by brands like Amway, Herbalife, Cipla, and Himalaya Wellness, wrote the publication.
RPSG Capital Ventures managing partner Abhishek Goenka said: “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 2 and beyond markets as well.”
Nutrabay operates as an online supplement store in India, specialising in health, nutrition, and bodybuilding products.
The company launched its product line in April 2019 and is now delivering its products directly to customers, without intermediaries.
