The funds raised in the Series A round will be invested in omnichannel expansion and innovations
New Delhi: Nutrabay Retail, a D2C startup retailing sports nutrition & wellness products, on Monday said it has raised $5 million in a funding round led by RPSG Capital Ventures.
The funds raised in the Series A round will be invested in omni-channel expansion and innovations. Kotak Alternate Asset Managers also participated in the round, according to a statement.
Nutrabay Retail “has raised its first-ever institutional funding round after growing profitably in a bootstrapped manner for over 7 years,” it said.
This is in line with its vision and the incoming investment will be used for the omni-channel expansion and ramp up new product innovation.
Founded in 2017, Nutrabay operates as a direct-to-consumer multi-brand retail store housing over 100 brands along with its private label products under the brand Nutrabay.
Besides its D2C platform, Nutrabay’s private label products are sold across other e-commerce channels and offline supplement stores.
Nutrabay brand houses over 70 products and saw 80% growth in FY24.
“It plans to add over 50 new products to the portfolio by the next financial year,” said the statement.
