Bollywood actor Varun Dhawan has invested an unknown sum within the D2C nutraceutical startup Quick&Up. The 34-year-old actor was not too long ago appointed as Good Vibes Officer, and the startup has additionally teamed with well-known desk tennis participant Sharath Kamal Achanta and boxer Pooja Rani.
The corporate, in a press release, stated it seeks to broaden its manufacturing capabilities and scale up internationally, in addition to enter newer classes. It has been aggressively seeking to put money into product analysis to drive the expansion of a number one longevity-focused on a regular basis diet model, and it plans to penetrate into newer classes.
Venugopal, Chief Govt Officer and co-founder of Quick&Up commented on the event saying, “We’re excited to welcome Varun to our Quick&Up household along with his curiosity mendacity within the health sector. We now have him as our Good Vibes Officer and love the power he brings to the model. We’re very pleased with this partnership being additional strengthened along with his funding in Quick&Up.”
The event got here simply over per week after Fullife Healthcare the mother or father agency of Quick&Up secured a $22 million Collection C spherical of funding from Morgan Stanley Personal Fairness Asia (MSPEA). It had earlier raised $6.6 million (~Rs 50 crore) from Amansa Capital’s Akash Prakash with participation from present traders Sixth Sense Ventures and Rakesh Jhunjhunwala.
Quick&Up, based in 2015 by Vijayaraghavan Venugopal and Varun Khanna, presents diet dietary supplements and multivitamin drinks. It manufactures merchandise for lively residing, which embrace diet & immunity, throughout a number of segments. Chicnutrix, Fullife’s different main model, is a wellness, magnificence, and diet model targeted solely on ladies.
The six-year-old start-up has attracted greater than 100 million prospects in only one month. It launched 20 new merchandise final yr, leading to a one hundred pc enhance in income over the earlier fiscal yr. Quick&Up has a presence throughout India, and its merchandise are offered via an omnichannel construction that focuses on direct-to-consumer (D2C), marketplaces, together with retail.
In comparable information, Mosaic Wellness, a well being and wellness platform, secured $1.25 million from Spring Advertising and marketing Capital earlier this month. Equally, Mom Sparsh Child Care, a direct-to-consumer (D2C) ayurvedic and pure private care model, raised Rs 20 crore (~$2.6 million) in funding final month from hotel-to-cigarette behemoth ITC Ltd.
Bollywood celebrities have made main investments within the startup ecosystem as an extension of their model technique. Actors Katrina Kaif and Alia Bhat, who invested in not too long ago listed Nykaa (FSN E-Commerce Ventures), are experiencing a wholesome enhance of their investments in light of Nykaa’s spectacular IPO.
The nutraceutical business has been quickly increasing within the midst of the pandemic. In accordance with ASSOCHAM, the nutraceuticals business in India was price $4 billion in 2017 and is prone to enhance at a CAGR of 35 % to $18 billion by 2026. The market alternative might be outlined by the truth that India is estimated to have a focused base of 120 million health-conscious prospects by subsequent yr, with over half of those originating from exterior metros and tier 1 cities.