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.

fund raised in Series A round will be invested for omni-channel expansion and innovations. Kotak Alternate Asset Managers also participated in 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 its vision and incoming investment will be used for 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 brand Nutrabay.

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

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

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