Aesthetic Nutrition Pvt Ltd, which markets and sells chewable dietary supplements under the brand Power Gummies, has closed its Pre-Series A funding led by DSG Consumer Partners, the company announced in an official release. While the details of the investment remain undisclosed, this is said to be the first institutional funding raised by the company.
The capital raised will be used to build the company’s online presence, towards new product launches, and to also to build its management team. DSGCP will work closely with Divij Bajaj, Founder of Aesthetic Nutrition, and his new product development team to design, develop and launch a portfolio of chewable functional and nutritional supplements.
Back in May 2019, Power Gummies raised $100K from Dhianu Das’ Alfa Ventures in seed-stage funding to scale up its operations and launch variants.
Founded in March 2018 by Divij Bajaj, Power Gummies is a chewable dietary supplement brand that helps to enhance hair and nail growth, along with boosting metabolism. The company claims that the products are 100% vegetarian and gluten-free. In addition, Power Gummies will also focus on building a bigger digital presence and add to its management team. Currently, the product is only available on Power Gummies’ website and ecommerce portals — Amazon, Flipkart, and Nykaa.
Power Gummies claims that the product is made with a combination of multivitamins — vitamin A, vitamin C, vitamin D, vitamin E, vitamin B6, B5, and vitamin B12 — and biotin. Power Gummies main ingredients also include zinc, folic acid, iodine, choline and inositol. The product is priced at INR 960 for a pack of 60 Gummies.
“Our gummies provide great results with amazing taste. They are 100 percent vegetarian, gluten-free, and gelatin-free. A regular routine helps rejuvenate and replenish the body by providing holistic nutrition. Our current product, the hair vitamin gummy, helps restore and maintain nail and hair health. We are excited to partner with DSG and with this funding, we aim to expand our operations and introduce new variants,” said Divij on the latest funding.
Commenting on the investment, Deepak Shahdadpuri, Managing Director of DSG Consumer Partners said, “The vitamin and health supplements market is ripe for disruption and presents a huge market opportunity in India. We believe that gummies will be amongst the fastest growing formats within the category. We have experience investing in this category having invested in YOUvit, one of Indonesia’s fastest growing vitamin supplement brands.”
“We are excited to partner with Divij and his team in building a leading health gummy brand in India. Within the first year of launch, the company has demonstrated strong product market fit and achieved an annual revenue run rate of over Rs 8 crore,” he added.
DSG Consumer Partners is an early-stage venture capital fund that has invested in over 45 consumer brands across India and South East Asia. DSG’s portfolio includes Epigamia, Raw Pressery, Chai Point, Eazydiner. DSG has also had a successful exit from OYO, Zipdial and Redmart. DSG Consumer Partners had announced the final close of its third flagship fund at $65 Mn, in August 2019.
More from Featured
ExtraaEdge Technology Solutions Pvt. Ltd, an ed-tech startup, has raised $700,000 (approximately Rs 5 crore at current exchange rates) in …