Unilever Ventures, the investment round’s leader, secured $6 million for Youvit, an Indonesia-based vitamin company.
DSG Consumer Partners, an existing investor, and a number of unknown new investors also took part in the fundraising.
The products offered by Youvit, which was founded in 2016, may be found in more than 20,000 physical stores, leading e-commerce websites, and its own direct-to-consumer website.
Its goods are marketed to urban millennials in Southeast Asia. Women make up over 70% of the brand’s customers.
With an initial focus on Malaysia, Youvit will use the new money to support its development objectives. The business will expand its product line and strengthen its omnichannel presence.
In response to the epidemic, 73% of Indonesians are increasing their supplement use, according to a Neurosensum poll. Youvit said that the region’s metropolitan regions’ growing health consciousness is expected to fuel the ASEAN supplements industry, which is expected to reach US$10.6 billion by 2026.