Nutrition Startup Nuvie Raises $450K in Pre-Seed Funding Led by PedalStart The funding round also saw participation from notable investors like Mukesh Bansal, Founder of Myntra, Cult.fit, and Nurix, Ayyappan R, Founder-CEO, FirstClub; ex-CEO, Cleartrip, Chanakya Gupta, Co-Founder, Tuco Kids; ex-SVP, Flipkart, and Arun Sharma, Co-Founder-CPO, Qlub UAE.
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Bengaluru-based F&B start-up Nuvie, has announced a USD 450,000 (INR 3.8 crore) fundraise in its maiden pre-seed funding round, led by start-up accelerator PedalStart.
The company aims to build a new-age 'Better-For-You' brand, with products that are protein-rich, guilt-free versions of indulgent snacks and treats, according to the company.
The funding round saw participation from notable investors like Mukesh Bansal, Founder of Myntra, Cult.fit, and Nurix, Ayyappan R, Founder-CEO, FirstClub; ex-CEO, Cleartrip, Chanakya Gupta, Co-Founder, Tuco Kids; ex-SVP, Flipkart, and Arun Sharma, Co-Founder-CPO, Qlub UAE.
The funding round also marked Nuvie's first external fundraising since its inception. The majority of this pre-seed capital will be used towards new product development, brand-building initiatives, and content creation efforts, said the company in a release.
According to Nuvie, it clocked over INR 10 lakh in monthly revenue from the first month of its launch, and is now aiming to close CY25 with an ARR of INR 10 crore. The company is also gearing up to roll out five new shake variants, with the product pipeline also including offerings like a protein chocolate bar, a healthier spin on traditional chocolates, and India's first protein-infused cold coffee, or "Proffee."
Prashant Paliwal and Hem Narayan, Co-Founders of Nuvie said, "We're elated to raise our pre-seed round, a significant milestone in our journey to reimagine healthy eating. At Nuvie, our focus is on crafting innovative products that strike the perfect balance between health and indulgence for today's lifestyle conscious consumer. This capital will empower us to double down on product innovation and strengthen our market presence as we gear up for our next phase of growth".
Manas Pal and Aditya Darolia, Co-Founders of PedalStart said that as Indians become increasingly conscious about their food choices and transition to healthier lifestyles, the market for nutritious foods in our country has been growing expeditiously.
"Despite that, very little innovation has happened in the food-tech space to make healthy foods delicious, and that's exactly where Nuvie gains its edge, and stands out by ensuring that healthy foods/drinks are made convenient and tasty at the same time. Nuvie's exciting category, innovative approach, and experienced founders committed to making better-for-you products work for the nation's beginner health-conscious users, were the key factors that enthused us to invest in them. We at PedalStart look forward to supporting them as their long-term growth partner," said Pal and Darolia in a statement.
