Nutrabay Retail, a D2C retailer of sports nutrition & wellness products, has raised $5 million in Series A funding round led by RPSG Capital Ventures with participation from Kotak Alternate Asset Managers Ltd
The company has raised its first-ever institutional funding round after growing profitably in a bootstrapped manner for over 7 years.
Founded in 2017 by Sharad Jain, Shreyans Jain & Divay Prakash Jain, Nutrabay operates as a direct-to-consumer multi brand retail store housing over 100 brands along with its own private label products under the name of Nutrabay. The private label brand products are sold across its D2C website, all major e-commerce websites and offline supplement stores.
The company aims to build one large horizontal brand that spans across three pillar categories of sports nutrition, vitamins, minerals supplements (VMS) and health food and drinks.
Shreyans Jain, Founder & Executive Director at Nutrabay said, “We started Nutrabay with a vision to provide high quality nutrition products to consumers and help them achieve holistic nutrition. We are thrilled to garner support from RPSG, Kotak PE and excited to leverage this partnership to drive our next phase of growth. We are committed to providing high quality products, at an affordable pricing to make the brand accessible to all enthusiasts across all consumer segments.”
Currently, Nutrabay houses over 70 products and saw 80 per cent growth in FY24 over FY23. It plans to add over 50 products to the portfolio by the next financial year.