Nutrabay, a direct-to-consumer (D2C) sports nutrition retailer, has raised $5 million in a Series A funding round led by RPSG Capital Ventures, with participation from Kotak Alternate Asset Managers Limited. This is Nutrabay’s first institutional funding and will be used to expand its omnichannel presence and drive new product innovation.
Founded in 2017, Nutrabay operates as a D2C multi-brand retailer, offering products from over 100 brands along with its own private label under the Nutrabay name. The company sells its products through its D2C website, various e-commerce platforms, and offline supplement stores. Nutrabay aims to establish a horizontal brand encompassing sports nutrition, vitamins, minerals, and supplements (VMS), as well as health food and drinks.
Shreyans Jain, founder of Nutrabay, stated that the company was established to provide high-quality nutrition products to help consumers achieve holistic nutrition. Jain expressed enthusiasm for the support from RPSG and Kotak PE, and the opportunity to leverage this partnership for the company’s next growth phase. Nutrabay currently offers over 70 products and experienced 80% growth in fiscal 2024 compared to the previous year. The company plans to introduce more than 50 new products by the next fiscal year.
Abhishek Goenka, managing partner at RPSG Capital Ventures, highlighted the strong potential in the nutrition, health, and wellness sector, noting that demand for sports nutrition is growing beyond metropolitan areas and gaining traction in tier 2 and smaller markets. Nutrabay competes with companies like HealthKart and HyugaLife in this expanding market.