Zingavita, a prominent direct-to-consumer (D2C) wellness brand, has successfully secured INR 10 Crores (approximately $1.2 million) in its pre-Series A funding round, with Anicut Capital leading the investment. Notable angel investors, including BionPharma CEO Venka Krishnan, True Elements founder Puru Gupta, and Grant Thornton CEO Vishesh Chandiok, also participated in the funding round.
The newly acquired capital will be strategically utilized by Zingavita to expand its product portfolio with a focus on targeted nutrition. Additionally, the company aims to foray into the premium ayurvedic supplement space, aligning with the growing demand for holistic wellness solutions.
Founded in 2022 by Sachin Goel and Dheeraj Nagpal, Zingavita, based in the Delhi NCR region, specializes in health and wellness products, offering natural supplements. The startup operates through an omnichannel approach, with its products available on popular e-commerce platforms such as Amazon, Flipkart, Tata 1Mg, and others.
Sachin Goel, co-founder of Zingavita, expressed the significance of the funding, stating, “…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.” Dheeraj Nagpal, the other co-founder, added, “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.”
Zingavita emphasizes its commitment to product development without additives such as sugar, preservatives, artificial colors, and flavors, ensuring transparency, innovation, and efficacy in the market.
Competing directly with other players in the sector, including Power Gummies, Plix, Wellbeing Nutrition, Fitspire, Celevida Wellness, and What’s Up Wellness, Zingavita aims to carve a niche with its focus on purity and customer-centric offerings.
The health and wellness space in India has been witnessing increased attention from investors, highlighting the potential of the sector. Last year, What’s Up Wellness secured INR 14.40 Crores ($1.7 million) from Unilever Ventures for team expansion and product development. Similarly, Fitspire also received undisclosed funding for geographical expansion, product diversification, and revenue stream establishment.
According to market studies, the Indian dietary supplements market is estimated to be around $2 billion in 2023 and is expected to grow to approximately $6 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 13.49%.
