Nuvie, a Bengaluru-based F&B startup, has raised $450,000 (about ₹3.8 crore) in its maiden pre-seed funding round led by PedalStart, a start-up accelerator.
The round also saw participation from several notable entrepreneurs and angel investors, including 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 funds raised will be used for product development, brand-building initiatives, and content creation efforts. The funds will be also strategically deployed to expand distribution and unlock growth opportunities.
Founded in May 2024 by Prashant Paliwal and Hem Narayan, Nuvie is a ‘better-for-you’ F&B brand that offers protein-rich, guilt-free versions of indulgent snacks and treats that taste just as good as the originals, if not better.
Having launched its lactose-free Ready-to-Drink Protein Shake in three flavours, Nuvie is now gearing up to roll out five new shake variants. The product pipeline also includes innovative offerings like a protein chocolate bar—a healthier spin on traditional chocolates, and India’s first protein-infused cold coffee, or “Proffee.”
Starting its journey in Bengaluru, Nuvie has rapidly expanded its footprint, now available in 100+ premium retail stores across major metros like Delhi, Mumbai, Hyderabad and Chennai.
Its products are also present in over 200 gyms and are reaching customers nationwide through key quick-commerce platforms such as Blinkit, Instamart, and Big Basket.
The brand now plans to scale its online presence via its own website and quick-commerce channels.
The startup claims to have early traction, clocking over ₹10 lakh in monthly revenue from its very first month of launch. The startup is now aiming to close CY 2025 at an ambitious ARR of ₹10 crore.
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, “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.”
