PV Sindhu joins wellness startup Hoop as strategic investor & brand ambassador
Launched in October 2023, Hoop offers topical pain-relief, sleep-supporting, and muscle-recovery solutions infused with magnesium, eucalyptus, lavender, and other ingredients.
PV Sindhu will join D2C consumer health startup Hoop as a strategic investor and brand ambassador, the company said in a statement.
Hoop, which launched in October 2023, sells roll-ons, sprays, body wash and lotions that are infused with magnesium, eucalyptus and lavender among other ingredients. It currently has close to 50,000 customers across 1000+ cities.
The company did not disclose the investment amount, but specified it plans to use the funds for channel expansion, product development and marketing. It sells topical pain-alleviating, sleep-supporting and muscle recovery solutions from its website and through Amazon. Hoop further plans to expand across all major digital channels such as e-pharmacies and quick commerce, although no timeline was revealed.
“Prioritizing pain relief, muscle recovery and sleep is critical for athletes like myself. I tried Hoop products for months and was incredibly impressed with their value not just for athletes, but for anyone who is focusing on living an active life,” Sindhu said, commenting on the strategic investment.
The company was founded by former McKinsey consultants Twinkle Uppal and Saharsh Agarwal, who later received a $100K equity-free grant from Spark Fellowship by Peak XV Partners.
The company then onboarded multiple angel investors in the consumer space including industry names like Rohit Kapoor (CEO, Food Marketplace, Swiggy), Abhinav Sinha (COO, OYO), Naiyya Saggi (Co-founder, Good Glamm Group), Suhail Sameer (ex-CEO, BharatPe), Shantanu Deshpande (Founder - Bombay Shaving Company), Kunal Suri (Former Managing Director, Food Panda), and Arjun Vaidya (Founder - Dr Vaidya’s).
According to the company, Hoop plans to carve a niche out for itself in the consumer wellness space, as the market is valued at approximately $20 billion in India today, and is growing at a steady pace of over 15% every year. It faces competition from other over-the-counter generic medications and traditional consumer brands
Edited by Jyoti Narayan