VC Fund Investments
Fireside Ventures joins HUL to invest $10-M in Wellbeing Nutrition
Financial Express HUL Press Release
Mumbai-based direct-to-customer (D2C) nutrition company Wellbeing Nutrition (operated by Nutritionalab Pvt Ltd) has raised USD 10 million in a Series B round led by publicly listed FMCG giant Hindustan Unilever Ltd (HUL) and Fireside Ventures. HUL and Fireside will be represented on the firm's board. The company would use the funds to launch and extend product categories, build a senior management team and strengthen its expert channel network, besides strengthening its R&D as well as enhancing retention. From the Deal Digest Daily dated Dec 9, 2022: Publicly-listed Hindustan Unilever Ltd (HUL) is to acquire a 19.8% in Nutritionalab Pvt Ltd (Wellbeing Nutrition) through a combination of primary infusion and secondary buyouts. Founded in 2019 by Avnish Chhabria, Wellbeing Nutrition claims to have pioneered disruptive formats in science-backed, benefit-led clean products in Health & Wellbeing. Its product range includes Melts (Oral Thin Strips), Slow (Slow-Release capsules) and Marine Collagen powder focused on need spaces such as Beauty, Everyday Health, Gut Health and Sleep. The firm has a presence in D2C, digital marketplaces and is expanding into offline retail channels.
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