Wipro Consumer Care – Ventures backs Indonesian startup Youvit

• ByStartupStory     |    October 19, 2022

Wipro Consumer Care – Ventures, the funding arm of Wipro Consumer Care & Lighting,  announced its investment in Indonesia-based startup Youvit which sells nutraceutical and wellness products for children and adults.

This investment marks the fund’s first direct investment in a south-east Asia startup.

This is the fund’s ninth investment in a startup—the earlier ones include MyGlamm, Ustraa, Power Gummies, Souflower, TAC, LetsShave, Onelife Nutriscience and DSG Consumer Fund IV. The fund which was set up in 2019 typically invests between $2 million to $6 million per deal. The fund’s investment in the company is part of a $6 million Series B funding round closed by the company. The start-up offers nutraceutical and wellness products in gummies format.

The funds will be utilised to expand its product offerings, launch products in new formats, while investing in the brand and expanding the team. “We will double-down on our omnichannel distribution model, with strong traction through online channels and our DTC platform as well as presence across more than 20,000 modern retail stores,” Wouter, co-founder and CEO, YOUVIT added.

“YOUVIT is a promising start-up in the nutra segment with focus on gummies. This is our first direct investment in a SE Asia start-up. YOUVIT is gaining strong traction among children as well as adults, with presence in Indonesia and Malaysia with plans to expand across Southeast Asia,” stated Sumit Keshan, managing partner, Wipro Consumer Care – Ventures.

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