100Unicorns exits TruNativ with 11x return since 2021

100Unicorns, one of India's leading early-stage venture capital funds, today announced a successful exit from TruNativ, delivering an approximate 11x return on invested capital since 2021.

100Unicorns was amongst the first to invest in TruNativ, betting early on rising Indian consumer demand for clean-label, science-backed nutrition products. Nikhil Kamath-backed Rainmatter and FMCG giant Emami invested in subsequent rounds, a signal that validated the fund’s early conviction in the category.

TruNativ has built a strong portfolio of nutrition products across categories, expanding through both digital and omnichannel distribution to become one of the leading brands in India’s health and wellness space.

Valued at around $29–30 billion in 2024, it is projected to reach $37–38 billion by 2026 and $55–57 billion by 2030, growing at a CAGR of approximately 10.5%, according to a report from CareEdge Ratings. The growth reflects a broader shift in Indian healthcare from reactive treatment to prevention, with rising disposable incomes and increasing awareness of lifestyle diseases fueling consumer demand for science-backed nutrition products.

Commenting on the exit, Dr Apoorva Ranjan Sharma, Co-founder and managing director of 100Unicorns., said: “Our investment in TruNativ was driven by our conviction that health-conscious consumer behavior would become a long-term trend in India.”

Sharma said the company has executed exceptionally well, building a trusted brand in a rapidly growing category. “This successful exit reflects the founders’ vision, operational excellence, and ability to create lasting consumer value. We are pleased to have partnered with the team during a significant phase of their journey and wish them continued success in the years ahead,” he said.

TruNativ Founder Pranav Mehrotra said 100Unicorns backed the company when it was “just an idea with conviction”. “Their early support and guidance were foundational to everything TruNativ has become, and we will always be grateful they were the first to believe,” he said.

The exit marks another successful outcome from the fund’s portfolio and reflects the growing maturity of India’s startup ecosystem, where early-stage investors are increasingly able to realize value through strategic liquidity opportunities. It adds to 100Unicorns’ consumer portfolio track record, which includes Renee, Let’s Try, IGP and MyFitness, among others.