India-based Women wellness D2C startup Nua has raised US$ 7.1 million (about Rs 52.6 crore) in a Pre-Series B funding round. The startup was announced on June 28, 2021.

The pre-series B spherical also witnessed the participation of former president (International Meals, House & Private Care) at Unilever, Vindi Singh Banga, mutually with Vindi Singh Banga and Kamini Banga of the Banga family office and Kae Capital. The label also added Bollywood actress Deepika Padukone as an investor who will work jointly with Nua to ideate and formulate novel wellness solutions.

Prior to this, Nua had raised $4 Mn in 2019 from Lightbox Ventures and Kae Capital

Company’s Insights

Established by Ravi Ramachandran in 2017, Nua accommodates recurring doorstep deliveries of sanitary pads and different healthcare products at the customer’s chosen frequency. The organisation also focuses on questioning taboos around menstruation by leveraging its throbbing online community and over 4 lakh women consumers.

The startup also claims to have seen an 87x increase in subscriber database since June 2020.

What the CEO have to say

Ravi Ramachandran, Nua founder and CEO, said, “Our approach from the start has been to focus on constituting holistic solutions comprising safe and secure products, tailored content, and a fellowship that women can rely on for all things wellness. This approach has rewarded dividends. Notwithstanding all the challenges of 2020, we were able to stimulate our growth completely on the back of a profoundly loyal customer base”.

He continued that the funding would benefit the company to further invest in its community, fashionable products, and technology to scale up the mark.

What the Investors have to say

Prashant Mehta, Partner at Lightbox, said Nua had pioneered the subscription paradigm for menstrual products in India that presents itself perfectly to this division.

“This was conceivable due to the great community they’ve built on trust, providing customers with a deeper connection with the brand. We are confident of the team’s strategy and capabilities to develop this category for the better,” Mehta added.

Zenith of change

For so long, the Indian sanitary napkin market has been governed by global brands such as Procter & Gamble’s Whisper and Johnson & Johnson’s Stayfree. The Mumbai-based startup is not seeming to compete with unicorns with an exponentially more potent retail presence.

With growing attention for women’s wellness, brands have a vast scope to seize the market for women care goods. For instance, Zealthy connects users to reliable and reputable healthcare providers for maternity, infertility, cosmetic interventions etc. It is currently supported by First Cheque, KYT Ventures and AngelList, among other renowned investors and industry veterans. Other examples of startups operating in the women wellness area are Mumbai-based Chicnutrix, Healofy, and BabyChakra.

The Indian sanitary napkin market reached a worth of $511.5 Million in 2018, according to IMARC Group. Increasing at a CAGR of more than 12%, the market is predicted to attain a value of $ 992.8 Million by 2024, within 2019-2024.

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