The company began operations in 2019 and sells products like oral thin strips, slow release capsules, collagen peptides and other products in the health category. The company also works with other digital marketplaces and offline retail channels.
In a statement, the company said that its revenue grew at 201% CAGR between FY19 and FY22.
“We are excited to welcome Hindustan Unilever as a strategic Investor. Fireside Ventures continued backing and further investment have been a great encouragement. Along with both these companies, we will further our mission to make clean nutrition accessible to consumers all over the world on the back of innovative products, such as melts, slows, collagen, and protein, 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. We believe this partnership will help scale our company to become a lifestyle wellness brand for all," the founders said in a statement.
Ritesh Tiwari, HUL’s chief financial officer, said the conglomerate had a track record of building categories through market development. “We are excited to work with the founders of Wellbeing Nutrition to grow the businesses further by leveraging our complementary expertise and capabilities."
VS Kannan Sitaram, partner at Fireside Ventures, said, “ It has been an amazing journey for us with Wellbeing over the last year and a half. We are excited by how the partnership with HUL can build on this culture of innovation and create enormous potential for growth."
