Gurugram-based Nutrabay, a direct-to-consumer (D2C) retail brand, has recently obtained $5 million in its first institutional funding round. The Series A financing was spearheaded by RPSG Capital Ventures and saw the involvement of Kotak Alternate Asset Managers.

Specializing in sports nutrition and wellness, Nutrabay is a multi-brand retail store that was co-founded in 2017. The store boasts over 100 brands as well as its own private label products.

The Founder and Executive Director of the brand Shreyans Jain heighted saying, "We started as a digital-first business, and even today, the majority of our sales come through online channels. Digital approach remains at the heart of Nutrabay's growth."

Shreyans Jain is targeting to launch at least 100 offline retail stores within next five years, a critical part of the brand’s growth strategy. He also told that the company is mainly focusing on authenticity and how the brand has addressed a major consumer pain point in the market.

The new proceeds will not speed up Nutrabay’s omnichannel expansion, but it will help the company to fuel up its product innovation.

Authenticity of all products sold is guaranteed by Nutrabay's direct associations with brands and issuance of brand authorisation certificates. Additionally, they offer a range of private label merchandise.

Jain told, "Authenticity was the main pain point for the consumer, which is what we had to solve for."

The company was launched in 2017 focusing on the health and nutrition sector, they noticed that, there is a significant lack in 100% business-to-consumer (B2C) multi-brand store. The consumers were depending on the marketplaces that often featured third-party sellers, raising concerns about authenticity of the product.