Wellversed Health Pvt. Ltd, which sells food products online under the Ketofy brand, said Friday it has closed its pre-Series A funding round with investment from cricketer Yuvraj Singh.
The nutrition healthcare startup has achieved a valuation of close to Rs 100 crore with this funding round, it said in a statement. It didn’t disclose the amount Singh invested.
The fresh capital will help Wellversed to expand, strengthen technology, boost its supply chain and enhance its research and development activities, it added.
Wellversed was founded in 2018 by Aanan Khurma, Aditya Seth and Ripunjay Chachan, according to its website. Its products are focused on the ketogenic and the low-carbohydrate segment. It says it fulfils 50,000 product units per month and has recorded a growth of over 250% in the last year.
The startup had initially raised $250,000 in its pre-Series A funding round in September last year from a clutch of investors including Tejinderpal Miglani, co-founder of diversified financial services group Indiabulls.
Other investors who took part in the round include Alok Mittal, co-founder and chief executive of non-banking financial company Indifi Technologies Pvt. Ltd, and Rohit Chanana, founder and managing partner of Sarcha Advisors.
The startup was incubated by Gurugram-based sector-agnostic incubator Huddle, whose portfolio also includes companies such as Poshtick, Trillbit and Jade Forest.
Yuvraj Singh said in the statement that Wellversed’s health transformation plans differentiate it from any competing offering.
Singh also owns venture capital firm YouWeCan Ventures, which has previously backed other startups such as Healthians and Startup Buddy.
Investments in nutrition-focused startups have been gaining traction as health awareness rises.
In August, Habbit Health and Nutrition raised a pre-seed funding round led by early-stage venture capital firm 3one4 Capital and Utsav Somani of crowdfunding platform AngelList India.
In July, angel investment platform ah! Ventures invested in Ripsey, which says its nutrition-focused service helps customers develop a sustainable and healthy eating lifestyle.
In June, Matrix Partners India led a $5 million Series A funding round in plant-based nutrition brand OZiva.