Saturday, March 02, 2024
Outlook.com
Outlook India
Outlook Business

Welness Start-Up Zingavita Raises Rs 10 Crore From Anicut Capital

Zingavita intends to use this capital infusion for new product development by blending Ayurveda and modern nutritional science

Welness Start-Up Zingavita Raises  Rs 10 Crore From Anicut Capital

Outlook Start-Up Desk

POSTED ON January 16, 2024 5:40 PM

Health and wellness start-up, Zingavita has raised a Rs 10 crore Pre-series A funding round led by Anicut Capital. The fresh funding will be infused into new product development focusing on targeted nutrition the company said in a statement. 

Following Dheeraj Nagpal’s recent appointment as cofounder at the company, the round welcomes marquee investors from the Pharma and FMCG space, the release further added. 

The round saw the participation of influential investors such as Venkat Krishnan (CEO at BionPharma), Puru Gupta (founder, True Elements), Vishesh Chandiok (CEO, Grant Thornton Bharat), Nikhil Bhandarkar (founding partner, Panthera Peak) and other angel investors. 

“The funds will fuel the brand's entry into the Premium Ayurvedic Supplement space,” the company added. 

Ashvin Chadha, co-founder and CEO of Anicut Capital, commented on the investment, "We deeply believe in Zingavita’s ability to bring a revolution in the industry, given their differentiated offerings and strategic approach towards addressing the growing nutraceuticals market. Their strong commitment to quality and clean nutrition, along with a sharp focus on the Indian market's unique needs, makes them an exceptional partner." 

Sachin Goel, co-founder of Zingavita, expressing gratitude, said, "Zingavita is thrilled to welcome our new investors onboard. Anicut Capital's continued backing and further investment have been a great encouragement. While we focus on creating formulations using superior quality ingredients intended to provide the best possible blend of Ayurveda and modern nutritional science, this funding will enable us to accelerate our innovation cycle and meet our growth milestones in order to continue delivering on our promise of holistic nutrition for the entire family.” 

Commenting on the fundraise, Dheeraj Nagpal, co-founder, Zingavita said, “With Anicut Capital's strong backing and our commitment to delivering high-quality, science-backed nutrition tailored for every family, we at Zingavita are committed to achieving our vision of becoming India's leading health supplement brand. This funding will propel us to new heights, enabling us to innovate, expand, and continue offering cutting-edge products that cater to the evolving needs of our discerning customers.” 

He further added, “The online market, valued at Rs 20,000 crore, is witnessing a dynamic shift towards Nutraceutical and Ayurvedic segments. It's noteworthy that Ayurvedic supplements are outpacing traditional modern nutrition, presenting a promising trend in the e-commerce space.” 

Established in 2022, the start-up provides health and wellness products, including natural supplements.

  • Related Articles

    In his advisory capacity, Ravindra Pandey will adeptly navigate Credgenics through the intricacies of the BFSI sector with his valuable insights and expertise

    Credgenics Onboards SBI Veteran Ravindra Pandey As Strategic Advisor To Leadership Team

    EzeCheck, a hemoglobin screening device developed by the startup, has been widely adopted by the government across the state

    EzeRx And Himachal Pradesh Government Join Forces To Envision Anemia Mukt Bharat

    As a part of the initiative, BuyUcoin will reimburse the withdrawal fees for users incurred during the transfer of assets from offshore platforms to BuyUcoin

    BuyUcoin Announces Zero-Fee Transfers From Offshore Crypto Exchanges