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Plix, plant-based nutrition brand, has raised $5 million in Series A funding from Guild Capital and RPSG Capital Ventures.
The funds will be used for launching several new products in the nutraceuticals segment tackling key health concerns, it said.
“Over 85 SKUs are planned for launch in the next 12 months. The company is also looking to hire new senior leadership talent, reinforce their R&D team and enter new markets,” the statement added.
Rishubh Satiya, Co-Founder, Plix said, “The vision with which we started the company has grown stronger with the recent pandemic highlighting the importance of a plant-based diet for all-round health and well-being. Plix aims to reach a scale of ₹500 crore by 2024”
Founded in March 2019, the start-up sells products across categories such as weight loss, hair and skin nutrition, daily wellness,daily wellness, women’s health, and workout supplements.
Apoorv Gautam, Chief Operating Officer and Head of India Investments, Guild Capital, said, “Plix has effectively carved out a unique brand that is accessible, approachable, and fun. We are excited to partner with a team that is young, dynamic, and very data-driven in their decision-making..”
Added Abhishek Goenka, Head & CIO, RPSG Capital Ventures, said, “Plix’s founders come with a strong vision – that of achieving growth which piggybacks on enabling people to live healthily by offering holistic well-being. The taste profile and convenience of consuming Plix’s products helped it create strong consumer love in a short span and achieve a solid growth.”
Plix’s products are available on most popular e-commerce platforms like Amazon, Flipkart, Nykaa, and its own website.
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