Gurugram-based wellness start-up What’s Up Wellness announced that it has raised funding in its maiden angel fundraising round. However, the start-up did not disclose the amount raised by them.
The funds will reportedly be used for expanding the team, scaling-up research and development (R&D), introducing new product lines, and strengthening the company’s brand-building efforts.
What’s Up Wellness's latest funding round was led by Puneet Sehgal, ex-chief operating officer (COO) of Hopscotch; Sahil Kukreja, director of The Butternut Co, Ritika Jaisinghani, founder of Elaa, Maharshi Ganatra, partner at MGA and Ritesh Ritolia, managing director (MD) and partner at Boston Consulting Group.
The round also saw participation from the founders of consumer brands such as Soumya Kant, co-founder of Clovia, Deep Bajaj and Mohit Bajaj, co-founders of Sirona Hygiene among other investors.
"Our goal is to provide nutrition in an easy and fun-to-consume way, not limited to just gummies but in whatever way our customer demands. We now have our growth roadmap ready for the next year and would be moving into heads-down execution mode,” said Vaibhav Makhija and Sayantani Mandal co-founders at What’s Up Wellness.
“While nutrition is a promising and growing category, what struck me about Vaibhav (Vaibhav Makhija, co-founder of What's Up Wellness) was his clarity on creating this category with differentiated products while staying profitable,” said Deep Bajaj, co-founder of Sirona Hygiene.
What’s Up Wellness aims to ideate and develop innovative wellness products that people can easily include in their routines and be benefited from. The company was co-founded by Sayantani Mandal and Vaibhav Makhija in May 2021.
The start-up claims to have an annual recurring revenue (ARR) of Rs five crore and aims to increase it to over Rs 12 crore in the next six months, with five new product launches planned.
The company also aims to expand its customer base to two lakh users from its current 40,000 by the end of 2023.