Unilever Ventures invests ₹14.40 crore into Indian startup What’s Up Wellness
Unilever’s venture capital arm Unilever Ventures has invested ₹14.40 crore (nearly $1.74 million) into What’s Up Wellness, a budding health and wellness startup.
This strategic move aims to bolster the startup’s workforce and expedite its product development endeavors.
What’s Up Wellness said: “The (seed) funding round was led by its sole new investor, Unilever Venture.
“Notably, this marks Unilever Ventures’ first investment in a health & wellness company.”
The company said some of its current investors also participated in the funding.
Pawan Chaturvedi, Partner-Asia at Unilever Ventures, said: “Investment in What’s Up Wellness is in line with our strategy of supporting and investing in promising indie brands in the health & wellness space.
“India presents a large opportunity for the wellness segment and What’s Up Wellness, with its innovative and modern formats, aims to capture this fast-transforming market
The company said it’d utilise the funds to build its team and foster expansion efforts.
It is also looking to propel the development of a diverse range of new products to solve major consumer pain points.
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What’s Up Wellness, known for its innovative gummy supplements, has already catered to over 250,000 customers across India.
The startup is gearing up to introduce 12 new products over the next two years.
What’s Up Wellness achieved remarkable growth last year, scaling up by over 12 times.
Co-founders Sayantani Mandal and Vaibhav Makhija said the funding round is “yet another significant milestone in our journey of building What’s Up Wellness as a trailblazer.”