Sports Nutrition Retailer Nutrabay Raises $5 Million for Growth

Sports nutrition retailer Nutrabay has successfully closed a Series A funding round, securing $5 million led by RPSG Capital Ventures and supported by Kotak Alternate Asset Managers Limited. This funding represents the first institutional investment since the company’s founding in 2017.

Investment to Fuel Expansion and Innovation

The investment will be used to drive Nutrabay’s omni-channel expansion and accelerate new product development. The company, co-founded by Sharad Jain, Shreyans Jain, and DivayPrakash Jain, plans to leverage this funding to strengthen its market position and broaden its product range.

“We have strong conviction in nutrition, health, and wellness as a space and have constantly backed companies in this category such as Plix and True Elements,” said Abhishek Goenka, Managing Partner at RPSG Capital Ventures. “Nutrabay has demonstrated impressive growth and a strong commitment towards product quality. We have seen sports nutrition growing beyond metros with high incoming demand from Tier II and beyond markets.”

Expanding Product Portfolio and Market Reach

Nutrabay currently operates as a multi-brand retail store featuring over 100 brands alongside its private label products. The private label, which includes more than 70 products, experienced a significant 80% growth in FY24 compared to FY23. Nutrabay’s products are available through its direct-to-consumer (D2C) website, major e-commerce platforms, and offline supplement stores.

The company plans to expand its product lineup by adding over 50 new products by the next financial year, aiming to cater to the growing demand and diversify its offerings.

Future Outlook

With this latest funding round, Nutrabay is well-positioned to capitalize on the expanding market for sports nutrition and wellness products. The company’s focus on innovation and omni-channel growth is expected to drive continued success and strengthen its presence in the competitive landscape.