Nutrabay, a direct-to-consumer (D2C) sports nutrition and wellness brand, has raised $5 million in a Series A funding round led by RPSG Capital Ventures with participation from Kotak Alternate Asset Managers Limited.
Dexter Capital Advisors acted as the exclusive financial advisor for the transaction to the company.
The company has raised its first-ever institutional funding round after growing profitably in a bootstrapped manner for over seven years.
The funds will be used for the omni-channel expansion and ramp up new product innovation. The brand aims to build one large horizontal brand that spans across three main categories: sports nutrition, Vitamins, Minerals, and Supplements (VMS) and health food & drinks.
Shreyans Jain, Founder & Executive Director, 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.”
Commenting on the round, Abhishek Goenka, Managing Partner, RPSG Capital Ventures said, “We have seen sports nutrition growing beyond metros and a high incoming demand from tier II and beyond markets as well. Nutrabay has demonstrated impressive growth and a 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.”
Founded in 2017 by Sharad Jain, Shreyans Jain, and Divay Prakash Jain, Nutrabay offers products from over 100 brands alongside its own private label under the Nutrabay name.
The brand currently has over 70 products and saw an 80% growth in the fiscal year 2024 compared to the previous year. The company aims to introduce more than 50 new products by the next fiscal year.
Nutrabay competes with HealthKart, and HyugaLife, among others in this category.
