[Funding alert] Matrix Partners India invests $5M in plant-based nutrition startup Oziva
Matrix Partners India-backed OZiva will use the funds for research and development, technology building, and to expand its team and customer base.
Matrix Partners India has invested $5 million in a Series A funding round in plant-based nutrition startup OZiva. Titan Capital also participated in the round.
OZiva will be using the freshly raised funds for research and development, technology building, and for expanding its team and customer base.
Sanjot Malhi, Director at Matrix Partners India, said in a statement:
“At Matrix, we are excited about backing the best new-age consumer brands and firmly believe in the potential of the under-tapped health and nutrition space in India. OZiva symbolises the future of wellness and nutrition, with its vision to be the number one plant-based nutrition brand in the country.
"Its maniacal product focus, using the highest quality ingredients and leveraging the power of content and community to educate and learn from consumers makes it a truly differentiated offering."
Clean-label brand OZiva was founded by IIT-Roorkee alumnus Aarti Gill and biotechnologist Mihir Gadani in 2016. The brand is focusing on building a nutrition and fitness ecosystem combining Ayurveda with modern micro-nutrients, in a digital community. The brand targets women between ages 18 years and 55 years, providing personalised customisation to all its customers.
Co-founder Aarti said, "We started OZiva with a simple vision of enabling millions of people to be healthier and better. Being pioneers in the clean, plant-based nutrition space in India, we invested our energies in educating consumers and building the category. Having a strong digital ecosystem and personalised consultations has helped us in delivering more than just the product and has reflected in our growth numbers as well as unit economics. We will keep investing and creating solutions focusing around three pillars of fitness: nutrition, workouts, and mental wellness."
Investment firm Matrix Partners invest in companies that target Indian consumer and enterprise markets. Matrix comes in during seed, early and early-growth stages. Its portfolio includes companies like Chumbak, Practo, Dailyhunt, Treebo, Razorpay, Stanza Living, Ola Electric, Vogo, and Mswipe, among others. Matrix Partners invests across the US, China, and India, with about $5 billion under its management.
(Edited by Teja Lele Desai)
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