Zingavita, a health and wellness startup, has raised INR 10 Crore (approximately $1.2 million) in its pre-Series A funding round, led by Anicut Capital.
The funding round also witnessed involvement from angel investors, including BionPharma CEO Venkat Krishnan, True Elements founder Puru Gupta, and Grant Thornton CEO Vishesh Chandiok, among others.
Zingavita plans to utilize the newly acquired capital to facilitate its expansion into new product development with a specific emphasis on targeted nutrition. Additionally, the funds will be directed towards supporting the brand’s venture into the premium ayurvedic supplement sector.
Established in 2022 by Sachin Goel and Dheeraj Nagpal, the Delhi NCR-based startup offers health and wellness products, such as natural supplements. Operating through an omnichannel model, its range of products is available on various ecommerce platforms, including Amazon, Flipkart, Tata 1Mg, among others.
Goel said, “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.”
“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,” Nagpal added.
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Zingavit said it will continue its emphasis on creating products without additives such as sugar, preservatives, artificial colors, and flavors. This commitment reflects the company’s goal of introducing transparency, innovation, and efficacy to the market.
The startup is in direct competition with companies such as Power Gummies, Plix, Wellbeing Nutrition, Fitspire, Celevida Wellness, and What’s Up Wellness, among others.
India’s health and wellness space has garnered substantial attention from investors in recent times.
For instance, last year in August, What’s Up Wellness secured INR 14.40 Crores ($1.7 million) from Unilever Ventures to expand its team size and develop new products.
Furthermore, Fitspire secured an undisclosed funding amount last year to enhance its presence across India and globally, introduce new products, and establish additional revenue streams.
As per a market study, the Indian dietary supplements market was valued at approximately $2 billion in 2023 and is projected to reach around $6 billion by 2032, with a compound annual growth rate (CAGR) of 13.49%.