Gurugram-based What’s Up Wellness Secures Angel Funding
- ByStartupStory | December 21, 2022
What’s Up Wellness, based in Gurugram, has reported an unknown amount raised in its first angel financing round from a group of investors. Previously, the company was bootstrapped, and the funds received through this round will be used for team-building, scaling-up R&D, and strategic product development to introduce new product categories, as well as to expand their brand-building activities.
Puneet Sehgal, ex-COO Hopscotch; Sahil Kukreja, Director, The Butternut Co.; Ritika Jaisinghani, Founder, Elaa; Maharshi Ganatra, Partner, MGA; and Ritesh Ritolia, MD & Partner, Boston Consulting Group, led What’s Up Wellness’ newest fundraising round. Founders of industry-leading consumer brands such as Soumya Kant, Co-Founder of Clovia; Deep Bajaj and Mohit Bajaj, Co-Founders of Sirona Hygiene; and other renowned investors also participated in the round.
“We are delighted to announce our first angel fundraising round and extremely thankful to the investors for backing us. As these are individuals who have already disrupted categories and have built large businesses, their backing is a great confidence booster for us. All the investors come with rich experience in building various consumer brands, and thus their learnings and guidance shall be invaluable and will enable us at What’s Up Wellness to grow at an accelerated pace in the near future,” said Sayantani Mandal and Vaibhav Makhija, Co-Founders, What’s Up Wellness.
They further added, “Our goal is to provide nutrition in an easy and fun-to-consume way, not limited to just gummies but in whatever form our customer demands. We are always actively listening to our customers; and after speaking to more than 30,000 of ours, we have been able to figure out what challenges they face daily and how we can solve them effectively without making our consumers put in any extra effort. We now have our growth roadmap ready for the next year and would be moving into heads-down execution mode.”
Speaking on his investment, Deep Bajaj, Co-founder, Sirona Hygiene said, “While nutrition is a promising and growing category, what struck me about Vaibhav was his clarity on creating this category with differentiated products while staying profitable! His grip on unit economics is commendable. It was a no-brainer to support him and Sayantani in this journey, and I am sure they will do really well.”
With their multi-benefit, easily consumable candies, What’s Up Wellness wants to make wellness entertaining and easy to eat. Sayantani Mandal and Vaibhav Makhija co-founded the company in May 2021. What’s Up Wellness offers two flagship items available as of today: What’s Up Beauty Gummies for hair, skin, and nails and What’s Up Sleep Gummies for muscle healing and nerve relaxation.
While the company has developed a clear Hero Product strategy backed by a deep understanding of its users’ needs and intends to keep the brand unisex for the long haul, it has three other products in the pipeline slated for launch in the next three months, which shall include stress-relief gummies and kids’ multi-vitamins.
Furthermore, they intend to expand into two additional product categories by the second half of the year, while maintaining their fundamental brand objective, to ensure that the products are They plan to increase their customer base from 40,000 to 2 lakh by the end of 2023. They intend to grow their customer base from 40,000 to 200,000 by the end of 2023.
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