Unilever Leads Seed Investment Round in Indian Health and Wellness Business
Unilever, the renowned UK consumer goods giant, has made a significant investment in Indian health and wellness start-up What’s Up Wellness. Through its venture-capital arm, Unilever Ventures, the company has provided funding to the Gurugram-based start-up, known for producing gummy multi-vitamins and supplements that promote better sleep and beauty routines.
This seed investment round also involved What’s Up Wellness’ existing angel investors, strengthening support for the company’s mission. The funding raised in this round, totaling Rs140.4m ($16.9m), will be used to expand the team, further drive growth and scalability, and most importantly, develop new products that address common wellness concerns.
The co-founders of What’s Up Wellness, Sayantani Mandal and Vaibhav Makhija, expressed their excitement about this milestone in their journey to establish the brand as a leader in the direct-to-consumer wellness and nutrition space in India. They also acknowledged the valuable insights and best practices they hope to gain from Unilever Ventures’ portfolio companies worldwide.
What’s Up Wellness gained recognition after appearing on the TV investment show Shark Tank India, where it secured funding from three “sharks.” Since its formation in May 2021, the company’s future plans include launching approximately 12 new products within the next two years.
Pawan Chaturvedi, partner, Asia at Unilever Ventures, emphasized the vast potential of the wellness segment in India and praised What’s Up Wellness for its innovative formats. Unilever Ventures is excited to support the company during its next phase of growth.
This investment follows Unilever’s previous investments in the Indian vitamins and supplements market. The company’s subsidiary, Hindustan Unilever, acquired a majority stake in Oziva and also obtained a 19.8% interest in Wellbeing Nutrition. Unilever’s expansion into the supplements sector includes its acquisition of US-based businesses Onnit and SmartyPants Vitamins in recent years.
