D2C retail brand Nutrabay raised $5 M Series A funding from RPSG Capital Ventures

The $5 million Series A funding round led by RPSG Capital Ventures and including participation from Kotak Alternate Asset Managers Limited has been secured by the direct-to-consumer retail brand Nutrabay. This is the company’s first institutional funding round; it is based in Gurugram.

Nutrabay stated in a press release that the money will be utilized to accelerate the development of new products and expand the omni-channel business.

Divya Prakash Jain, Sharad Jain, and Shreyans Jain co-founded Nutrabay in 2017. It is a direct-to-consumer multibrand retail store that carries over 100 brands in addition to its own private label goods under the Nutrabay brand. The D2C website, all well-known eCommerce platforms, and physical supplement stores sell the private label brand products.

Based on market research, it is anticipated that the Indian market for nutritional supplements would reach a valuation of $28.70 billion at a compound annual growth rate of 10.7% by 2032.

Building a single, expansive horizontal brand that encompasses the three main categories of sports nutrition, VMS, and health food and beverages is Nutrabay’s goal.

The company reports that it grew by 80% in FY24 compared to FY23 and that it currently carries over 70 products. By the next fiscal year, it plans to expand the product line with more than fifty new offerings.

The operating revenue of Nutrabay increased by 4.66 times to Rs 89.53 crore in FY23 from Rs 19.24 crore in FY22, according to the media. From a profit of Rs 32.41 lakh in FY22 to losses of Rs 5.8 lakh in FY23, it experienced a decline.

Nutrabay is in the same category as competitors such as HealthKart, Optimum Nutrition, My Protein, and MuscleBlaze.