The proposed $70 million spherical highlights rising investor urge for food for preventive vitamin manufacturers as India’s wellness market scales quickly. With deal exercise accelerating throughout dietary supplements and nutraceuticals, Quick&Up is positioning itself to seize rising demand for protein, hydration and clean-label merchandise.
The corporate has appointed Avendus Capital as its advisor, and the method has now entered the ultimate spherical of bids.
“The corporate had mandated Avendus as an advisor to assist with the method. As part of the outreach, a number of funding companies have been tapped and the method is now right down to the final spherical of bids,” one of many folks cited above stated.
“If goes as deliberate, it may very well be a mix of the 2 buyers placing in cash with Venturi prone to make investments a bigger examine dimension,” the particular person added.
Quick&Up, Venturi and Avendus declined to remark, whereas Elev8 didn’t reply to Mint’s queries till the time of publication.
Wellness wave
The potential deal underscores rising investor curiosity in sports activities and preventive vitamin, as shoppers more and more prioritize well being and health.
“The house is more and more attracting curiosity from non-public fairness and enterprise capital gamers as shoppers place extra concentrate on well being and vitamin,” the second particular person stated.
In November, Mint first reported on Quick&Up’s plans to lift major capital to speed up progress, launch new product strains and develop distribution.
Final week, USV Personal Ltd acquired round 79% stake in nutraceutical agency Wellbeing Vitamin in an all-cash deal valuing the corporate at ₹1,583 crore. Individually, Hindustan Unilever Ltd (HUL) stated it should purchase the remaining 49% stake in Oziva for ₹824 crore.
Different current transactions embody Kapiva’s $60 million fundraise led by 360 ONE Asset and Vertex Progress in September, whereas Healthkart raised $153 million in a largely secondary spherical led by ChrysCapital and Motilal Oswal Alternates final 12 months.
Class enlargement
India’s well being and wellness market reached $156 billion final 12 months and is projected to develop to $256.9 billion over the subsequent eight years, in keeping with analysis agency IMARC Group.
Manufacturers corresponding to Plix, Nutrabay and HyugaLife have additionally been increasing aggressively, driving rising demand for protein dietary supplements, hydration merchandise and clean-label formulations.
Quick&Up’s newest improvement comes almost 4 years after the corporate raised an undisclosed quantity from actor Varun Dhawan in 2022, following a $22 million (round ₹165 crore) Collection C spherical led by Morgan Stanley Personal Fairness Asia earlier that 12 months.
Its different backers embody Uncommon Enterprises (based by Rakesh Jhunjhunwala), Kotak Securities and Sixth Sense Ventures.
Enterprise snapshot
Based in 2015 by Vijayaraghavan Venugopal and Varun Khanna, Quick&Up started with multivitamin and sports activities vitamin dietary supplements.
Its father or mother firm, Fullife Healthcare Pvt. Ltd, has European origins. Fullife owns Aeronutrix Sports activities Merchandise Pvt Ltd, beneath which Quick&Up operates. The group additionally runs Chicnutrix, a women-focused well being and wellness model.
Quick&Up operates throughout weight administration, plant protein, whey protein, hydration & vitality, sports activities vitamin and every day vitamin classes. It has greater than 100 merchandise accessible in over 35 international locations, in keeping with its web site.
The model distributes by means of on-line platforms, together with fast commerce channels, and offline retail by way of companions corresponding to Reliance Retail and DMart, together with regional distributors.
In FY24, Fullife reported income of ₹188 crore, up from ₹171 crore a 12 months earlier. Losses narrowed to ₹30 crore from ₹49 crore in FY23, in keeping with an Entrackr report.