Nutrabay bags $5M in Series A round led by RPSG Capital Ventures
This marks the company's first institutional investment since its bootstrapped operations since 2017.
Sports nutrition retailer has raised Series A funding of $5 million in a round led by RPSG Capital Ventures, with participation from Kotak Alternate Asset Managers Limited.
This marks the first ever institutional round of funding since the company’s inception in 2017.
The D2C brand said it plans to use the investment for omni-channel expansion and to ramp up new product innovation.
The company, co-founded by Sharad Jain, Shreyans Jain, and DivayPrakash Jain, aims to build one large horizontal brand that spans across three pillar categories of Sports Nutrition, VMS, and Health Food & Drinks.
“We have strong conviction in nutrition, health, and wellness as a space and have constantly backed companies in this category such as Plix and True Elements. We have seen sports nutrition growing beyond metros and a high incoming demand from Tier II and beyond markets as well. Nutrabay has demonstrated impressive growth and a strong commitment towards product quality," noted Abhishek Goenka, Managing Partner at RPSG Capital Ventures.
Nutrabay currently operates as a multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. Its private label currently houses over 70 products and saw 80% growth in FY24 over FY23, they are sold across its D2C website, all major ecommerce websites and offline supplement stores.
The company plans to add over 50 new products to the portfolio by the next financial year.
Edited by Megha Reddy