D2C startup Wellbeing Nutrition raises $10 million in Series B led by HUL, Fireside Ventures

Some of the products of Wellbeing Nutrition.

Amid the ongoing funding winter, direct-to-consumer (D2C) startup Wellbeing Nutrition has raised $10 million (Rs 85 crore) in a Series B round led by Hindustan Unilever Limited (HUL) and Fireside Ventures, said the company in a press statement on December 12.

The startup has scaled operations to over 5000+ stores across India and with the new round, it aims to launch and extend the product categories, build a senior management team and strengthen its expert channel network, along with strengthening its research and development.

Like many other D2C brands, Wellbeing Nutrition is also expanding offline.

Founded in 2019 by Avnish Chhabria, 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.

“HUL has a successful track record of building categories through market development. We are excited to work with the founder of Wellbeing Nutrition to grow the businesses further by leveraging our complementary expertise and capabilities,” said Ritesh Tiwari, CFO, HUL

The brand aims to reach 100 million people over the next year by driving awareness digitally and leveraging HUL’s capabilities.

Kannan Sitaram – Fireside Ventures, said, “It has been an amazing journey for us with Wellbeing over the last year and a half. 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.”