[Funding alert] Venture Catalysts invests in health supplement startup Power Gummies
Venture Catalysts, an integrated incubator and accelerator platform, has recently invested in Delhi-based health supplement startup Power Gummies.
Power Gummies had previously raised an investment from DSG Consumer Partners, and has now raised an undisclosed amount from Venture Catalysts in an extension of its pre-Series A round of funding.
Dr Apoorv Ranjan Sharma, President and Co-founder, Venture Catalysts, said,
“In India, Power Gummies has been a frontrunner in the nutraceutical industry, offering high-quality, FSSAI-approved products that meet the nutritional requirements of people of all ages. We are confident that the latest round of funding will enable Power Gummies to scale up their operations and reach new heights.”
Founded by Divij Bajaj in 2018, under the parent company Aesthetic Nutrition Pvt Ltd, Power Gummies uses ingredients with a vegan base to create gummies. Its nutritional gummies are an amalgamation of Biotin, Zinc, Folic acid, and ten other essential vitamins and minerals that act as a panacea for holistic nutrition needs.
Power Gummies claims that its supplements are 100 percent vegetarian and are available across the globe through their website as well as on all major ecommerce platforms like Amazon, Flipkart, Nykaa, Netmeds, and HealthKart.
Divij Bajaj, Founder and CEO, Power Gummies, said,
“With these incoming funds, we plan to optimise and manage our logistics, supply chain and engage in extensive R&D to come up with new variants based on various other needs such as weight management and period pain relief soon.”
Within just a year of inception, Power Gummies has sold 10,00,000+ gummies. The company now looks forward to expanding its footprint across tier-I and tier-II markets in India.
Catering to modern, health-conscious consumers, Power Gummies said in a release that its products are gluten and gelatine-free, with zero pesticides and no artificial colour. The 100 percent vegetarian gummies are FSSAI approved, which help restore and maintain the health of hair and nails, the startup added. The products are also lab tested for purity and scientifically-backed on biotin based research published in reports of the European Food & Safety Association.
Last month, Venture Catalysts also backed Insurance Samadhan, a tech-enabled insurance grievance redressal platform, and OM Bhakti, a puja cotton-wicks manufacturing startup. It invests $250,000 – $1.5 million in early stage startups that have potential to create enduring value for over a long period of time.
Edited by Megha Reddy