DSG Consumer Partners has invested an undisclosed amount in pre-Series A round of funding in Axys Nutrition Products Pvt Ltd, a Mumbai-based nutraceutical company developing evidence-based nutrition and nutraceutical products, under the brand name Nutrova.
Akshay Pai, Founder and CEO, Nutrova said,
“Our fundamental belief at Nutrova is that the right nutrition, if properly delivered, can enable everyone to take charge of their health. We’re excited to partner with DSG on this journey to develop the best products possible and to make them easily accessible as well. The resources from this funding will enable us to continue our research-driven product development as well as to scale our team and presence.”
Founded by Akshay Pai in 2013, Nutrova said its mission is to develop research-driven products that provide measurable outcomes for a variety of health goals, enabling individuals to take charge of their health. Its current portfolio includes products for skin and hair health, digestive health, fitness and vegan nutrition. The company ships to consumers pan-India exclusively through its website and also has a retail presence in Mumbai and Bengaluru.
Nutrova currently sells eight SKUs including Nutrova Collagen + Antioxidants and Nutrova Antioxidants for skin health, Nutrova Kerastrength for hair health, Nutrova Complete Omega 3, Nutrova Functional Fibre, Nutrova Whey Protein Isolate and Nutrova Pea protein, a vegan source of protein, for fitness and weight management.
Deepak Shahdadpuri, Managing Director of DSG Consumer Partners added,
“As Indian consumers become more affluent, a larger share of wallet is spent on health and wellness. We believe that the evidence-based, clinical research centered approach adopted by Nutrova will be a very important purchase consideration for customers as awareness levels increase.”
Since its inception in 2013, DSGCP has backed over 40 startups exclusively in consumer brands and businesses in India and South East Asia. It is investing from its third fund, currently manages $200 million of committed capital and has investment professionals and advisors in Mauritius, Singapore and Mumbai.
(Edited by Javed Gaihlot)
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