Indian nutraceutical startup Power Gummies raises USD 6 million in Series A

India-based Power Gummies, a nutraceutical startup manufacturing gummies containing doses of nutrition and vitamins needed in everyday life, raised USD 6 million on 10th January 2022.

Investors: The investment round was led by to 9Unicorns. Several investors, including Vcats, DSG Consumer Partners, WIPRO Consumers, Sharpp Ventures (Marico Family office) and NB Ventures, also participate in the round.

Purpose of funding: Using the funding, the brand will expand its presence in India and internationally. Accordingly, New product variants will be introduced, and overseas expansion will be undertaken. The startup also plans to launch new initiatives to make people aware of the importance of nutrition and vitamins in their daily lives. Therefore, communicate the advantages of its healthy products and services.

About Power Gummies

Founded in 2018 by Divij Bajaj, Power Gummies is located in New Delhi, India. Power Gummies is a nutraceutical startup manufacturing gummies containing doses of nutrition and vitamins needed in everyday life. In addition to being vegan-based, this product contains no sugar or gelatin, is gluten-free, contains no pesticides, and is 100 percent vegetarian. Furthermore, each product is put through several clinical studies conducted by the startup to demonstrate its innovation. In addition to its website, the startup sells its products on Amazon, Flipkart, and Nykaa.

What the founder has to say

“Power Gummies is all set to mark its space at the global nutraceutical industry podium with this newly raised funding round. We are extremely excited to roll out new projects such as introducing new variants and expanding overseas,” said Divij Bajaj, Founder and CEO at Power Gummies.

“I truly believe that when you understand the need of the hour, you become the change of the hour. That is how our mission is to devise scientifically backed supplements following our brand philosophy of ‘health powered by happiness and backed by science’, that make taking nutrition easy with just two gummies a day! As a brand, we encourage people to adapt to gummies to follow a healthier lifestyle and be the best version of themselves.”

What the investors have to say

“The nutraceuticals industry has been growing owing to the increasing preference of a nutrient-rich diet among the consumers. People have now realised the role of nutraceutical products like Power Gummies, which are gluten-free and vegan. These vitamins and proteins are transformed into edible gummies that can help with disease prevention. With the huge demand that the sector has been garnering, we will continue to invest in preventive health products,” said Apoorva Ranjan Sharma, Co-founder at Venture Catalyst and 9Unicorns.

“The nutraceutical market in India has seen strong traction over the last few years and is expected to grow at over 20 percent in the coming years. Gummies as a format are likely to take off in a big way, given the convenience factor. We value Power Gummies and Divij for the leadership they bring,” said Sumit Keshan, Managing Partner at Wipro Consumers.

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