D2C Sports Nutrition and Wellness Brand Nutrabay Raises USD 5 Mn in Series A RPSG Capital Ventures led the round, joined by Kotak Alternate Asset Managers. Funds will boost omni-channel expansion and drive new product innovation.
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Nutrabay Retail Private Limited, a leading direct-to-consumer (D2C) retailer of sports nutrition and wellness products, has secured USD 5 million in its Series A funding round. This investment was led by RPSG Capital Ventures, with participation from Kotak Alternate Asset Managers Limited. Dexter Capital Advisors served as the exclusive financial advisor for the transaction.
This marks Nutrabay's first institutional funding round after successfully growing profitably as a bootstrapped company for over seven years. The funds will be allocated towards expanding its omni channel presence and accelerating new product innovation.
Shreyans Jain, Founder and Executive Director at Nutrabay, said, "We started Nutrabay with a vision to provide high-quality nutrition products to consumers to help them achieve holistic nutrition. We are thrilled to garner support from RPSG and Kotak PE and excited to leverage this partnership to drive our next phase of growth. We are committed to providing high-quality products at an affordable price to make the brand accessible to all enthusiasts across all consumer segments."
Founded in 2017 by Sharad Jain, Shreyans Jain, and Divay Prakash Jain, Nutrabay offers a wide range of health, wellness, fitness, and bodybuilding products.
The New Delhi-based brand operates as a multi-brand retail store, housing over 100 brands and its private label products. Nutrabay's offerings span across three main categories: 'Sports Nutrition,' 'Vitamins, Minerals, and Supplements,' and 'Health Food and Drinks.'
Abhishek Goenka, Managing Partner at RPSG Capital Ventures, highlighted the growing demand for sports nutrition beyond metros and emphasised Nutrabay's impressive growth. "Nutrabay has demonstrated strong commitment towards product quality. We believe in their vision and are excited to partner with them as they continue to disrupt the sports nutrition market in India," Goenka added.
Currently housing over 70 products and saw 80% growth in FY24 over FY23, Nutrabay plans to add over 50 new products to the portfolio by the next financial year.
