Aesthetic Nutrition Pvt Ltd announced that is has closed its Pre-Series A funding in a round led by DSG Consumer Partners. Aesthetic Nutrition markets and sells chewable dietary supplements under the brand Power Gummies.
The company, founded by Divij Bajaj in November 2018, will develop and launch a portfolio of vitamins and nutritional supplements in gummy format, without the use of capsules and pills. The first product is a hair vitamin supplement made from plant-based pectin, ten essential vitamins, biotin, and folic acid.
Power Gummies was founded with the mission to make healthy lifestyle simple, fun and easy to maintain. The company will make essential vitamins enjoyable to eat that will make customers look forward to having them every day. The first product, biotin gummies, help address hair loss, a critical pain point for many Indians. Power Gummies uses vegetarian pectin as an alternative to traditional animal-derived gelatin that is more prevalent in gummies worldwide. The products are vegetarian, non GMO, gelatin-free, gluten-free and free of soy, nuts, dairy, meat and other allergens. The product is currently available on its own website and marketplaces like Amazon, Flipkart, and Nykaa.
DSG Consumer Partners is leading this first institutional funding round. The capital raised will be used for building the company’s online presence, new product launches, and building out its management team. DSGCP will work closely with Divij and his new product development team to design, develop and launch a portfolio of chewable functional and nutritional supplements. The company is developing an exciting pipeline of new products focused on enhancing health, wellness and personal care.
Commenting on the fund raise, Divij Bajaj said, “Our gummies provide great results with amazing taste. They are 100% vegetarian, gluten-free and gelatin-free. A regular routine helps rejuvenate and replenish the body by providing holistic nutrition. Our current product, the hair vitamin gummy, helps restore and maintain nail and hair health. We are excited to partner with DSG and with this funding, we aim to expand our operations and introduce new variants.”
Deepak Shahdadpuri, Managing Director of DSG Consumer Partners, said, “The vitamin and health supplements market is ripe for disruption and presents a huge market opportunity in India. We believe that gummies will be amongst the fastest growing formats within the category. We have experience investing in this category having invested in YOUvit, one of Indonesia’s fastest growing vitamin supplement brands. In particular, we have seen a rise in spending on functional gummy vitamins targeted at personal care as consumers enhance their personal care regimes with the addition of dietary supplements. We are excited to partner with Divij and his team in building a leading health gummy brand in India. Within the first year of launch, the company has demonstrated strong product market fit and achieved an annual revenue run rate of over INR 80 million.”
The Indian market for nutraceutical supplements is estimated to be US$ 5 billion and is expected to grow at 20% CAGR from 2018-2023. Preference for healthier lifestyle, rising consumer health concerns regarding chronic diseases, and increasing awareness of nutrition deficiency in regular diets are major drivers of the health supplement market in India. Within multivitamins, the gummy segment is expected to grow the fastest similar to the global trends.