OZiva, an India’s Leading Clean Label Active Nutrition Brand combining Modern Food & Ancient Ayurveda, has raised $12 million in a Series B round led by Eight Roads Ventures, the company said in a statement.
Other participants in this round include F-Prime Capital and existing backer Matrix Partners India.
In June, the company secured $5 million (around Rs 37 crore) in its Series A round, which was led by Matrix Partners India. Existing investor Titan Capital, an investment vehicle of Snapdeal founders Kunal Bahl and Rohit Bansal, also participated in that round.
OZiva, operated by Zywie Ventures Pvt Ltd, was set up in 2016 by Aarti Gill and Mihir Gadani. Gill, who is an alumnus of INSEAD and IIT-Roorkee, previously set up FitCircle and worked with Capital One. Gadani is an alumnus of the University of Mumbai and co-founded FitCircle.
OZiva says it operates a portfolio of plant-based products across categories including healthcare, skincare, and general wellness. Apart from its products, which have received certifications from institutions including the Clean Label Project, the company provides customers with personalised diet and fitness considerations, nutritional and fitness content, and community-based events.
It will use the capital raised in this Series B round to focus on growing its product portfolio, expand into newer categories, as well as enhance its technological infrastructure and research and development divisions, Gill said.
“We have closely tracked the large yet under-penetrated consumer health category, looking for companies with the focus and capabilities to disrupt the sector. OZiva’s product leadership and technology-first approach around content and community set it apart from others in the market,” Eight Roads Ventures principal Ashish Venkatramani said.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.