Power Gummies, a Delhi-based nutritional supplement brand, has raised a bridge round of financing from Agility Venture Partners and existing investor DSG Consumer Partners. Till now, the startup raised $1 million in funding.
Launched in 2018 by Divij Bajaj, Power Gummies claims that it has sold 8 lac gummies in the first year of its operations. The startup sells vegan, 0mg sugar, chewable hair and nail vitamin gummies.
The startup will utilise the current financing for product research, team expansion and marketing its new products.
“With the current funding raised, we aim to grow our operations by 6X more this year and further launch products in various variants, focusing on different health and wellness categories and segments. Achieving an annual revenue run rate of over Rs 8 crore in the first year of operations motivated us to give the best to our customers,” said Divij Bajaj, founder and CEO of Power Gummies.
Commenting on the investment, Deepak Shahdadpuri of DSG Consumer Partners said, “Power Gummies is a unique brand which is making its mark in the nutraceutical sector, people are looking out for alternatives to take nutrition and Power Gummies happens to be the sweet spot. With the perfect reach and positioning, we only look forward to witnessing a sustainable business growth in the market, looking at how people are moving towards preventive care and nutrition for their health and wellness.”
–AN
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