Nutrabay, a retail brand that sells directly to customers, has raised $5 million in a Series A funding round led by RPSG Capital Ventures with participation from Kotak Alternate Asset Managers Limited. This is the lady institutional financing round for the Gurugram-based organization. The returns will be utilized for the omni-channel extension and increase new item development, Nutrabay said in a public statement.

Co-founded in the year 2017 by Sharad Jain, Shreyans Jain, And Divya Prakash Jain, Nutrabay works as a direct-to-customer multi brand retail store housing more than 100 brands alongside its own confidential mark items under the name of Nutrabay. Products under the private label brand are available for purchase on its D2C website, all of the major eCommerce websites, and in physical supplement stores.

Market research indicates that the market for nutritional supplements in India will reach a valuation of $28.70 billion by 2032, growing at a CAGR of 10.7%. Nutrabay plans to assemble one enormous even brand that traverses across 3 support point classes of sports sustenance, VMS and health food and drinks.

According to the company, it currently houses over 70 products and experienced growth of 80% in FY24 over FY23. By the next financial year, it intends to include over fifty new products in the portfolio. TheKredible, a startup data intelligence platform, reports that Nutrabay's operating revenue increased by 4.66 times to Rs.89.53 crore in FY23 from Rs.19.24 crore in FY22.

Along with is Funding roundvital funding round, from a profit of Rs 32.41 lakh in FY22, its losses increased to Rs 5.8 lakh in FY23. In the category, Nutrabay faces competition from HealthKart, Optimum Nutrition, My Protein, and MuscleBlaze, among others.