D2C wellness startup, What’s Up Wellness raised $1.7 million led by by Unilever Ventures, the venture capital arm of consumer goods giant Unilever. Existing investors of What’s Up Wellness also participated in the funding round.
What’s Up Wellness Expansion Plans and Product Development
The startup plans to use the recently obtained funds to grow its team and develop new products. Vaibhav Makhija and Sayantani Mandal established the startup in 2020. They specialize in making nutritious edible gummies.
Impressive Growth and Ambitious Targets
What’s Up Wellness has reported remarkable growth, witnessing a twelve-fold increase in the past year, leading to an impressive annual revenue rate (ARR) of INR 30 crore. Looking ahead, the startup aims to solidify its presence as a INR 100 crore brand within the next two years, driven by the launch of a dozen new products.
What’s Up Wellness Customer Engagement and Funding History
With over 2.5 lakh individuals served, the startup is a player in the growing market. Before this funding round, angel investors, including founders of Sirona Hygiene and Clovia, had invested in the startup. Appearing on Shark Tank India led to funding from industry figures like Aman Gupta of boAt, Anupam Mittal of People Group, and Vineeta Singh.
Wellness Market Landscape and Ongoing Funding Trend
The startup competes with brands like Himalayan Organic and Wellbeing Nutrition. They all seek a share in the fast-growing wellness industry. The IMARC Group conducted a recent study. This study predicts a 5.55% growth rate for India’s health and wellness market. This growth expect from 2023 to 2028. The market projects to reach INR 120.3 billion.
Investors are showing increased interest in health and startups. Hindustan Unilever Limited (HUL) and Fireside Ventures led Wellbeing Nutrition’s $10 million Series B funding round last year. Fitspire, a vegan healthcare and personal care startup, also completed a Pre-Series A funding round. This adds to the ongoing funding momentum in the industry.
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