Nutraceutical platform Power Gummies said it has secured $ 6 million (around Rs 44 crore) in a Series A funding round led by 9Unicorns, with participation from Vcats, DSG Consumer Partners, WIPRO Consumers, Sharpp Ventures (Marico Family office) and NB Ventures.
The New Delhi-based company aims to deploy fresh capital to grow its group and roll out more varieties of its dietary supplements.
Founded in 2018 by Divij Bajaj, Power Gummies has claimed that it only focuses on delivering health and wellness solutions to meet today’s lifestyle, and is supported by standard clinical trials. of the WHO. Bajaj started the platform with the concept of introducing food supplements in a chewable form rather than capsules and tablets.
âThe nutraceutical market in India has seen strong traction in recent years and is expected to grow by over 20% in the coming years. Erasers as a format are likely to be very successful, given the convenience factor, âsaid Sumit Keshan, Managing Partner, Wipro Consumer Care – Ventures.
Currently, the brand offers four variations: Gorgeous Hair & Nails (vitamin gums for hair and nails), The Beach Body (sugar-free gums for weight management), That Time of the Month (gums to relieve menstrual pain) , Jaw-Dropping Skin (collagen chewing gums for the skin) and plans to launch 45 more in the near future.
In a similar space, recently Fullife Healthcare Pvt. Ltd, which sells sports nutritional supplements under the Fast & Up brand, has secured funding for an undisclosed amount from actor Varun Dhawan.
Last month, herbal nutrition brand Plix raised $ 5 million (around Rs 38 crore).