SUMMARY
The funding round was led by IvyCap Ventures, with participation from First Bridge Fund
The startup will use the capital to strengthen AI-driven personalisation features for users, expand its dark store network and establish an offline presence
HyugaLife operates an ecommerce marketplace for health and wellness products such as herbal supplements, sports nutrition, weight management and fitness accessories
Protein and supplements marketplace HyugaLife
has raised ₹100 Cr ($10.6 Mn) in its Series A funding round led by IvyCap Ventures, with participation from First Bridge Fund.
The startup said it will use the capital to strengthen AI-driven personalisation features for users, expand its dark store network, and establish an offline presence.
Founded in 2021 by Sachin Parikh, Anvi Shah and Neehar Modi, HyugaLife operates an ecommerce marketplace for health and wellness products such as herbal supplements, sports nutrition, weight management, fitness accessories, among others.
The startup claims to offer more than 10,000 products across nine different categories from over 450 brands, catering to a broad spectrum of consumers, including athletes, professionals, and families.
“We’re doubling down on our authenticity guarantee by expanding lab tested offerings, while investing in AI-driven smart, personalised technology that meets consumers at their specific life stage and fitness phase, and enabling faster access through dark stores and offline,” HyugaLife cofounder and CEO Parikh said.
HyugaLife also offers a “H-Tested” programme that assures authenticity of products listed on its platform, through third-party labs adhering to NABL and FSSAI standards to assess their protein and nutrient values.
The startup also sells self-manufactured products like creatine, whey protein, among others, under the Hyuga brand.
Without disclosing the capital raised so far, HyugaLife claimed that it is backed by Peak XV and Spring Marketing Capital, alongside cricketer KL Rahul since its inception.
The development comes at a time when there is a heightened consumer demand for wellness products in the market, benefitting brands operating in the health and wellness space. Since the start of this year, investors have backed brands like Mosaic Wellness, Fullife Healthcare and Dhun Wellness betting on this growing demand.
Meanwhile, Mumbai-based pharmaceutical company USV signed an agreement to acquire 79% stake in Wellbeing Nutrition for ₹1,583 Cr ($174.7 Mn) in an all-cash deal, earlier in February.
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