Vegan Wellness Brand Fitspire Secures Pre-Series A Funding from Leading Investors, Including Bollywood Star Sukhbir Singh
- ByStartupStory | August 8, 2023
Fitspire, a vegan health and personal care products, has successfully raised an undisclosed amount in a pre-Series A funding round. The funding round led by a stellar lineup of investors, showcasing the brand’s appeal and potential for growth.
Among the marquee investors contributing to this funding round are the founders of LC Nueva, a distinguished alternate investment fund, and the renowned Bollywood celebrity, Sukhbir Singh. The Family Office of Jaipurias, represented by Ruchirans Jaipuria and Anuraag Jaipuria, has also joined this impressive investment endeavor.
Notable names in the investment round, including Ivor Braganza from Next5 Ventures Oman and Dheeraj Jain from Redcliffe London, along with existing investors such as Amit Singhal, Rajesh Sud (MD Financial Services Bharti Enterprises), Simmar Pal Singh (CEO Cofco International), and Jay Ukani (Director Ban Labs), have also shown their confidence in Fitspire’s future.
Fitspire, headquartered in Delhi, has been making waves in the nutrition startup space since its inception in 2020. Founder Vipen Jain, an alumnus of IIM Lucknow, has led the company to achieve remarkable sales growth, with annual increases of tenfold. With this recent funding injection, Fitspire is poised to reinforce the Health, Personal Care (HPC) ecosystem, expand its market presence in Tier II and Tier III cities across India and globally, introduce innovative products, and establish new avenues of revenue.
The company’s astounding growth trajectory is underpinned by its robust presence in the rapidly expanding HPC and Nutraceuticals market. With the global HPC market valued at an astonishing USD 140 billion, and the Nutraceuticals segment alone commanding a value of USD 39 billion, both sectors are projected to maintain a compound annual growth rate (CAGR) of 18%.
Vipen Jain, Founder & CEO of Fitspire, expressed his enthusiasm, stating, “This investment will help us expand our product range and reach global markets, bringing our plant-based products to more people. We are excited to take Fitspire to new heights and positively impact people’s well-being along the way.”
Sohil Chand, CIO for LC Nueva, emphasized the surge in demand for plant-based protein options, adding, “We firmly believe that Fitspire is positioned for a sustained presence within the Indian Fitness and Wellness segment.”
Ruchiran Jaipuria from the Family Office of Jaipurias commended Fitspire’s unique offerings, stating, “Fitspire offers healthy nutrition supplements with the highest quality ingredients, and unlike many others I’ve tried, Fitspire products excel in taste as well.”
Fitspire, owned by StarCap Wellness Pvt. Ltd, has already amassed an impressive customer base of over one million and boasts a robust network of 10,000 fitness influencers. With a dedicated team at its helm, Fitspire is set to expand its operations and continue its mission of promoting plant-based health and wellness to a broader audience.
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