Laurik, a one-of-a-kind health elevator brand that employs coconut derivatives and delivers the appropriate nutrients in a shot, revealed on Tuesday that it has secured INR 37 million in seed funding while still in the concept stage. Laurik is also one of only 100 companies in the world to get the Clean Label Certification from the Clean Label Project, and the second Nutraceutical brand in India. Following the emergence of the COVID-19, the Indian market for plant-based nutraceuticals has seen rapid expansion. During the projected period of 2022-2027, the Indian nutraceuticals market is estimated to rise at a 15.00% CAGR.
The business plans to utilise the cash largely to boost research and development, expand the team size, and scale its go-to-market operations in order to capture this rising market. The money will also be used to advertise the company’s products and develop new product categories in the coming months, according to a press statement from the Hyderabad-based firm. Laurik is a D2C nutraceutical firm that provides the World’s first Lauric enhanced coconut shots, founded in 2020 by Lavanya Sunkari and sponsored by Archana Chindam to improve people’s long-term health and well-being.
Being recognised by the Clean Label ProjectTM as one of the few companies in the world for creating clean products, according to Lavanya Sunkari, Founder and CEO of Laurik, “validates our mission to unlock the power of nature with exceptional innovation to make products that are healthier and safer for daily consumption.” Murthy Aradhi, co-founder of FastCollab, and Lakshmikant PB, Director of Finance at Antler, an early-stage venture capital firm, led the round of fundraising. Laurik’s innovative invention has also been recognised by the Telangana government and T-Hub, who recently gave funding through the T-Fund programme to the firm. Laurik uses lauric acid, a rare ingredient found in mother’s milk and coconut, to create the world’s first enhanced coconut shots.
It isolates this element from premium coconuts and blends it in one shot with over 26 whole-food-sourced vitamins, minerals, superfoods, and probiotics. These shots are created using an ancient Ayurvedic idea that was established after 24 months of rigorous scientific investigation by leading specialists from across the world. This year, the startup has applied for over 12 formulation patents. Currently, the website Lauriko.com offers 12 different Laurik shots for men and women, and the company wants to expand its distribution to include e-commerce platforms and supermarkets in the near future.
