Wellbeing Nutrition raises $10 million in a Series B round led by HUL, Fireside Ventures

Science-backed, D2C nutrition company, Wellbeing Nutrition has raised $10 million (or Rs 85 crore) in a Series B round led by Hindustan Unilever Limited (HUL) and Fireside Ventures. Wellbeing Nutrition's product range includes Melts (Oral Thin Strips), Slow (Slow-Release 2-in-1 capsules with beadlet in oil technology), Korean Marine Collagen peptides for beauty, Daily Fiber for digestion, and Vegan Protein for fitness and everyday health.

The company said it is expanding in offline retail channels to over 5000+ retail touchpoints.

The current Wellbeing Nutrition team, which is led by Avnish Chhabria and Saurabh Kapoor, will continue to operate all functions of the business. HUL and Fireside Ventures will be represented on the Board, an official statement said.

Avnish Chhabria & Saurabh Kapoor of Wellbeing Nutrition said the company is excited to welcome Hindustan Unilever as a strategic Investor. "With the new funding, we aim to reach 100 million people over the next year by driving awareness through digital aggressively, as well as making use of HUL’s capabilities. We believe this partnership will help scale Wellbeing Nutrition and become a lifestyle wellness brand of choice for all," they said in a statement.

Ritesh Tiwari, CFO, HUL, said the company has a successful track record of building categories through market development and is excited to work with the founder of Wellbeing Nutrition to grow the businesses further.

Kannan Sitaram of Fireside Ventures said the business has grown rapidly under Avnish’s stewardship.  "All thanks to the new-to-market innovations both on products and channels, creating rapid consumer engagement. We are excited by how the partnership with HUL can build on this culture of innovation and create enormous potential for growth," Sitaram said.

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