Debt financing
Plant-based health player Wellbeing Nutrition raises Rs.25-Cr from pharma co. ACG-Capsules
Mumbai-based D2C (direct-to-consumer) health & wellness startup Wellbeing Nutrition has raised INR 25 crore (around USD 3 million) in debt, led by pharma company ACG-Capsules (INR 10 crore), along with participation from Maheshwari Investors Pvt Ltd, MGB Advisors, and Atmos Finance (INR 5 crore each). The company will issue 2,500 optionally convertible debentures (OCDs) at INR 1,00,000 each to raise the sum. The company will use the funds for general business operations and working capital expenditures.Founded in 2019 by Avnish Chhabria, Wellbeing Nutrition specializes in plant-based ingredients to promote overall wellness. Its product range includes solutions for daily wellness, sleep, headaches, gut health, hair loss, and skincare.
Between June 2021 and Dec 2022, Wellbeing Nutrition had attracted about USD 12 M from Fireside Ventures, ACG Associate Capsules Pvt Ltd, and Hindustan Unilever Ltd.For FY24, Wellbeing Nutrition had reported about INR 69.33 Cr in Operating Income and about INR 31.76 Cr in Net Loss.
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