~Funds to be harnessed for new product development by blending ayurveda and modern nutritional science
~ Zingavita is one of the fastest growing nutraceutical supplement companies in the country
National, January 16, 2024 – Zingavita, a leading health and wellness startup specialized in providing high-quality, tailor-made nutraceuticals and supplements, today announced the successful closure of a ₹10 crore Pre-series A funding round led by Anicut Capital. The investment is poised to catalyse Zingavita’s expansion into new product development focusing on targeted nutrition. Following Dheeraj Nagpal’s recent appointment as cofounder at the company, the round welcomes marquee investors from the Pharma and FMCG space.
The Pre series A funding, which saw participation from influential investors such as Venkat Krishnan (CEO at BionPharma), Puru Gupta (founder, True Elements), Vishesh Chandiok (CEO, Grant Thornton Bharat), Nikhil Bhandarkar (founding partner, Panthera Peak) and other seasoned angel investors, will be pivotal for Zingavita’s growth and marketing initiatives. Additionally, the funds will fuel the brand’s entry into the Premium Ayurvedic Supplement space.
The start-up will continue to focus on the products which are devoid of harmful additives like sugar, preservatives, artificial colours & flavours and thereby, bring transparency, innovation, and efficacy to the market.
Ashvin Chadha, Co-Founder & CEO, Anicut Capital, commented on the investment, “We deeply believe in Zingavita’s ability to bring a revolution in the industry, given their differentiated offerings and strategic approach towards addressing the growing nutraceuticals market. Their strong commitment to quality and clean nutrition, along with a sharp focus on the Indian market’s unique needs, makes them an exceptional partner.”
Sachin Goel, Co-Founder, Zingavita, expressing gratitude, said, “Zingavita is thrilled to welcome our new investors onboard. Anicut Capital continued backing and further investment have been a great encouragement. While we focus on creating formulations using superior quality ingredients intended to provide the best possible blend of ayurveda and modern nutritional science, this funding will enable us to accelerate our innovation cycle and meet our growth milestones in order to continue delivering on our promise of holistic nutrition for the entire family.”
Commenting on the fundraise, Dheeraj Nagpal, Co-Founder, Zingavita said, “With Anicut Capital’s strong backing and our commitment to delivering high-quality, science-backed nutrition tailored for every family, we at Zingavita are committed to achieve our vision of becoming India’s leading health supplement brand. This funding will propel us to new heights, enabling us to innovate, expand, and continue offering cutting-edge products that cater to the evolving needs of our discerning customers.”
He further added, “I am thrilled to be part of Zingavita’s growth story, especially at a time when the overall health supplement category is experiencing significant growth with a Compound Growth Rate (CGR) of 20-25%. The online market, valued at ₹20,000 crore, is witnessing a dynamic shift towards Nutraceutical and Ayurvedic segments. It’s noteworthy that Ayurvedic supplements are outpacing traditional modern nutrition, presenting a promising trend in the e-commerce space.”
Zingavita’s portfolio consists of 25+ products available on leading e-commerce marketplaces like Amazon, Flipkart & Tata 1mg. Zingavita has led the launch of an disruptive array of health solutions aimed at enhancing overall well-being. Among these innovative offerings are India’s pioneering honey-sweetened gummies, meticulously crafted to cater to both children and adults. These gummies span various categories, including Eye Health for Kids, specifically formulated to counter screen time overload, Multivitamins for Kids to support growth and development, Chawanprash for Kids promoting long-term immunity, and Keratin Gummies for Adults fostering optimal hair health. Additionally, Zingavita has launched its premium Ayurveda supplement range introducing sustained-release ashwagandha capsules, providing a natural remedy for managing stress throughout the day. Complementing these advancements are a Multivitamin and Omega 3 blend infused with herbal extracts in a single softgel, and Pure Himalayan Shilajit available in effervescent tablet form. These ground-breaking products showcase Zingavita’s commitment to revolutionizing wellness practices by amalgamating traditional remedies with modern scientific advancements.