VC Fund Investments
Wellness brand HyugaLife raises $6.3 M from Stride Ventures, Spring Marketing Capital, others
Mumbai-based Pratech Brands, a digital-first retailer and parent entity of HyugaLife , has raised INR 52 crore (USD 6.3 million) in a seed funding round led by Spring Marketing Capital and Stride Ventures. The round also saw participation from Surge Ventures, the seed investment unit of Peak XV Partners .Stride Venture and Spring Marketing Capital led the funding round with INR 15.5 crore and INR 12.5 crore investments, respectively. This was followed by Surge Ventures which infused INR 10 crore. Following the fresh capital infusion, which values Pratech Brands at around INR 160 crore (over USD 19 million), the company’s promoters Neehar Modi, Sandhya Shah, Sachin Parikh, Shruti Parikh and Anvi Shah collectively own over 52%. Surge Ventures owns an 18.6% stake while Spring Marketing Capital has a 9.4% stake.To date, the company has raised around USD 9.3 million. HyugaLife raised USD 1 million from Stride Ventures, and Getvantage in January. The brand is also backed by Indian cricketer K L Rahul and actress Katrina Kaif.
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