Nutrabay Raises $5 Mn Investment to Expand Internet-Based Supplement Offerings

Nutrabay's Significant Investment Raises $5 Mn

Nutrabay, a D2C nutrition startup, has successfully raised $5 Mn in a Pre-Series A funding round led by RPSG Capital Ventures. This round saw participation from existing investors, including Kotak Alternate Asset Managers Limited and others. The influx of capital is earmarked for omni-channel expansion and enhancing their product innovation.

About Nutrabay and Its Offerings

Founded in 2017 by Divay Jain, Sharad Jain, and Shreyans Jain, Nutrabay offers a wide range of supplements from over 100 brands, including popular private label products. The comprehensive product line features whey protein powders, vitamins, gainers, creatine, BCAAs, and Ayurvedic supplements, totaling over 70 private label products available on various platforms.

Growth and Market Position

Shreyans Jain emphasized their commitment: “We are dedicated to providing high-quality products at affordable prices to make the brand accessible to all enthusiasts.” RPSG Capital Ventures' managing partner, Abhishek Goenka, highlights a growing market, stating, “We have strong conviction in nutrition, health, and wellness as vital spaces.”

Nutrabay has recorded an impressive 80% yearly growth in FY24 compared to FY23. Although competing with notable brands, Nutrabay stands out in a sector traditionally dominated by companies like Amway and Herbalife. The recent surge in health and wellness narratives has propelled demand for nutraceuticals, with startups collectively raising over $70 Mn.

Market Outlook

The Ministry of Food Processing Industries predicts that India’s dietary supplements market will reach $10.2 Bn by 2026, reflecting a 22% YoY growth since 2020, when it was valued at $3.9 Bn. To capitalize on this growing trend, Nutrabay continues to expand its reach and product offerings.