Nutritional food brand, The Healthy Company, on Thursday said it has secured undisclosed capital in a pre-Series A funding round, led by Inflection Point Ventures.
The startup plans to deploy the fresh money for marketing, research and development as well as expansion of channels.
Founded in 2018 by Ackshay Jain and Devansh Jain Nawal, The Healthy Company offers healthy dietary products ranging from granola bars to plant-based protein.
The company claims to have shipped 2 million orders to date.
“We have continuously focused on improving the outcomes of each and every user on our wellness platform. With our retention metrics, Inflection Point’s wide network offers us significant opportunities for market connections and partnerships that can help us scale up rapidly,” said Ackshay Jain, co-founder, The Healthy Company.
Inflection Point Ventures is an angel investing platform with over 7,100 CXOs, HNIs, and professionals under its umbrella. The firm supports new-age entrepreneurs by providing them with monetary & experiential capital and connecting them with a diverse group of investors.
“Healthy choices are now a way of life and it cuts across age segments. The Healthy Company’s offerings have helped consumers enjoy being on a diet and achieve their weight loss and fitness goals. We can provide insights to THC’s team on scaling their business. The organic synergy between IPV and THC has led to closing this round with the company,” said Vinay Bansal, founder and chief executive officer of Inflection Point Ventures.
The health and wellness space in India has been gaining a lot of investors’ attention since post pandemic.
As per a report released by Avendus Capital earlier this year, Indian households are likely to double their spends on health-focused foods and beverages in the next five years, as consumers increasingly shift to healthier food alternatives.
India is the fastest growing health food market expanding at 20% CAGR and the category will assume a market size of $30 billion in the next five years, as per the report.
A handful of players in the broader healthy snacks category have managed to receive funding from institutional investors. Last month, healthy snacks startup, Open Secret raised $10 million in a Series B round of funding led by sector-agnostic fund Ananta Capital.
Another player Happilo had raised $25 million in a fresh round from homegrown private equity fund Motilal Oswal Private Equity (MOPE) in February this year.
In January, Starcap Wellness Pvt. Ltd, which runs nutrition-focused wellness brand Fitspire, had raised an undisclosed amount from various angel investors in a bridge round in India, and in a foreign direct investment (FDI) round abroad.
