Bengaluru-based sports nutrition brand DAAKI has raised an undisclosed amount in angel funding from Rohan Agila, a business partner at Capvent Advisors.
The capital will be used in research and product development, the company said in a press statement.
Launched in 2013, Daaki India Pvt Ltd designs, manufactures and markets custom-made supplements. It offers a range of performance sports nutrition products, including protein-based workout supplements and muscle gainer supplements.
“Our very first task was to create a unique identity that would resonate with the consumers and at the same time get our supplementation ideas on the table. It is a fresh way to look at athlete’s food. Daaki has reengineered sports nutrition,” said Amit Dabas, the company founder.
Before going on his own, Dabas had stints in Wipro Technologies, Lloyds TSB and Iry Tech Pvt. Ltd.
According to a 2015 study by industry body Associated Chambers of Commerce and Industry of India (Assocham) and business consulting firm RNCOS, India’s dietary supplements market, which is worth about $2 billion, is estimated to double by 2020.
Genmedic Healthcare Pvt Ltd, which makes vegetarian nutritional supplements under the Super Gummy brand, had recently raised an undisclosed amount from Brand Capital, the ad-for-equity investment arm of media firm Bennett, Coleman and Company Ltd (BCCL). The company, which was set up in 2013, develops vegetarian nutritional supplements in the form of gummy bears.
In February 2017, BM Vyas, the former managing director of India’s largest dairy company Amul, had launched a protein-based nutritional products company, Nutrisattva.
Several established dairy firms have recently launched protein supplements, including whey, which is a high-margin business. While Amul markets its protein range under Amul PRO, and Parag Milk Foods sells its products under the Avvatar brand.