D2C startup Nutrabay raises $5 million

Nutrabay Retail, a D2C startup retailing sports nutrition & wellness products, on Monday said it has raised USD 5 million in a  funding round led by RPSG Capital Ventures.

The fund raised in Series A round will be invested for omni-channel expansion and innovations. Kotak Alternate Asset Managers also participated in the round, according to a statement.

Nutrabay Retail "has raised its first ever institutional funding round after growing profitably in a bootstrapped manner for over 7 years," it said.

This is in line with the its vision and the incoming investment will be used for the omni-channel expansion and ramp up new product innovation.

Founded in 2017, Nutrabay operates as a direct-to-consumer multi-brand retail store housing over 100 brands along with its own private label products under the brand Nutrabay.

Besides its D2C platform, Nutrabay's private label products are sold across other e-commerce channels and offline supplement stores.

Nutrabay brand houses over 70 products and saw 80 per cent growth in FY24.

"It plans to add over 50 new products to the portfolio by the next financial year," said the statement.