[Funding alert] Protein water brand Aquatein raises seed round from Eaglewings Ventures
Mumbai-based Athlex Beverages Pvt Ltd, which owns protein water brand, on Wednesday, said it raised an undisclosed seed round from Eaglewings Ventures.
The brand will use the funds to expand into the retail space across multiple channels and amplify its online presence further with loyalty and training programmes to enhance the experience of its high number of repeat customers.
“Being a fitness enthusiast myself, I understand the importance of protein in one’s daily diet. It is very much the need of the hour. With this round of funding, we plan to retail and reach pan-India,” said Ananth Prabhala, Founder and CEO, Aquatein.
According to the firm, there has been an increase in demand for protein water in the wake of the COVID-19 pandemic. Fitness enthusiasts, recovering patients, and athletes are looking for a replacement to their regular single-flavoured, unspecialised, and cumbersome protein products.
“Consumer behaviour is exponentially trending towards leading a healthier lifestyle and making conscious choices. Aquatein wants to make choosing health easier and be a part of everyone’s daily routine,” added Mitisha Mehta, Co-founder and CMO, Aquatein.
Founded by Ananth Prabhala and Mitisha Mehta, Aquatein has sold over 100,000 units so far via online and offline channels.
“It is no longer a secret that a high majority of the Indian population is protein deficient. Add to it the misbelief that protein plays a major role only for athletes, weightlifters and sportsmen. The team at Aquatein has done a fantastic job by launching this unique international standard product, which offers optimal nutrition for everyone, unlike other protein options,” said Atul Javeri, CEO of the Mumbai-based EVAN.
The Indian nutraceutical market is in the emerging stages, growing at a fast pace, creating room for innovations. The ideology of Aquatein is to bring advanced technological innovation in conventional nutraceutical products and ensure routine and ease of consumption.
Aquatein is available in two variants with four flavours, making a variety available for every taste bud.
"We’ve seen protein consumption evolve from powders to bars and chocolates. Aquatein is a unique on the go product, which suffices your daily protein needs in a most convenient and measured manner, and thus, stands out from the other products. The philosophy of EVAN is to ‘prospect, build, invest’, and the same has worked out well for us and Aquatein as we move towards building our portfolio of ‘India’s First’ with our first D2C investment in the fortified beverage space,” stated Poojit Jain, Angel Investor, EVAN.