Wellbeing Nutrition raises $10 million from HUL, Fireside Ventures
Direct-to-consumer brand Wellbeing Nutrition has raised $10 million (Rs 83 crore) in a series B round led by Hindustan Unilever Ltd (HUL) and Fireside Ventures.
With this investment, HUL and Fireside Ventures will be represented on the board of the company.
Wellbeing Nutrition will utilise the funds to diversify its product categories, research & development, expansion, and strengthening of its senior management team.
Commenting on the funding, Avnish Chhabria, founder of Wellbeing Nutrition in a statement said, “Along with both these titans, we will further our mission to make clean nutrition accessible to consumers all over the world on the back of innovative products formulated using high-quality and globally sourced natural ingredients. With the new funding, we aim to reach 100 million people over the next year by driving awareness through digital aggressively, as well as making use of HUL’s capabilities.”
Ritesh Tiwari, chief financial officer of HUL added, “HUL has a successful track record of building categories through market development. We are excited to work with the founder of Wellbeing Nutrition to grow the businesses further by leveraging our complimentary expertise and capabilities.”
Founded in 2019, Wellbeing Nutrition offers products for beauty, health, and fitness. It currently sells through its website and multi-brand e-commerce platforms.
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