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D2C Retail Brand Nutrabay Secured $5 Million From RPSG Capital Ventures In Its Series A Funding Round



Nutrabay is a D2C startup that provides 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 first institutional funding round saw participation from several new and existing investors including Kotak Alternate Asset Managers. These services, processing, and sales of nutritional supplements are the primary sources of revenue for the company.

The company plans to use these fresh proceeds to scale up its production, expand customer reach, launch new products, improve its platform, and expand its omnichannel services. The startup provides products directly to customers from the store and acts as a brand retail store. The company focuses on developing its offline presence by having more than 100 brand outlets and its private label products. NutraBay will open more brand outlets this financial year. 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 capacity. The D2C retail brand intends to build horizontal brands in 3 categories: sports nutrition, health food and beverages, and VMS.

This D2C brand offers a variety of nutritional supplements including protein, amino acids, creatine, multivitamins, herbs and more. The company also offers body-building supplements, weight loss and other wellness products. The brand operates in the retail and hospitality tech market segments. The company claims that it will have 80 per cent growth in FY24 and has over 70 products. The startup aims to launch over 50 new products in the portfolio by the next financial year. The startup aims to use this investment to expand its stores while developing the brand's presence in the Indian market.

Credible, a startup data intelligence platform, noted that the company reported a nearly 4.66x growth in its operating revenue to Rs 89.53 crore in FY23. However, the losses also widened to Rs 5.8 lakh in the same period. This development comes at a time when investor interest in the D2C nutritional supplement market has grown. NutraBay is facing competition from brands such as Hugalife and Healthkart in the same market segment. Market research has shown that the Indian nutritional supplement market is expected to grow at a CAGR of 10.7 per cent. The sector is projected to cross a valuation of USD 28.70 billion in the next 8 years.

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conclusion:

NutraBay, a D2C nutritional supplement providing startup, has secured USD 5 million in its ongoing Series A round from RPSG Capital Venture with participation from Kotak Alternate Asset Managers. The startup plans to use this fresh capital to scale its operations, meet general corporate objectives, and expand 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. This development comes just after the growing interest of investors in the Indian nutritional supplement sector. The D2C retail brand competes with other companies in the nutritional supplement market segment including Healthkart.



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