New Delhi-based direct-to-consumer (D2C) brand Power Gummies today announced it has raised $6 million or Rs 44 crore in a Series A funding round led by 9Unicorns, Vcats, DSG Consumer Partners, WIPRO Consumers, Sharpp Ventures (Marico Family office), and NB Ventures.
Power Gummies had first raised seed funding from venture capital company Alfa Ventures in 2019. In 2020, the startup had closed two funding rounds: the first was a seed round headed by Venture Catalysts and DSG Consumer Partners, while the second was a bridge round led by Agility Venture Partners, with DSG Consumer Partners and Vcats participating.
Divij Bajaj founded Power Gummies in November 2018 with the goal of providing consumers with health and wellness solutions. Notably, the brand has unique formulations that are supported by World Health Organization (WHO) standard clinical trials, and it creates products through rigorous R&D while adhering to sustainable manufacturing practises.
With this round of funding, the New Delhi-based brand hopes to revolutionise the Indian nutraceutical market by expanding both locally and globally. The funds raised will be used primarily for marketing initiatives, team expansion, and the launch of additional dietary supplement variants.
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