One sector that is doing well even amidst the pandemic is the nutraceutical market. This market stood at $4 billion in 2017 in India and is expected to reach $18 billion by 2026. One such company that is doing well in this sector is Varun Khanna’s Fullife Healthcare which raised $22 million from Morgan Stanley Private Equity Asia or MSPEA.
The CEO of Fullife Healthcare says, “It is amazing to have Morgan Stanley as a part of the narrative we are building at Fullife and our brands Fast&Up and Chicnutrix. With our brands being available in multiple countries, we are excited about the story we are building and are grateful for the trust that MSPEA has put in us.”
With over 15 years of experience in R&D and Manufacturing experience in Effervescent products, Fullife Healthcare was India’s first company to take branded business outside India in the field of wellness and active nutrition. The company is dedicated towards manufacturing high-quality promising products that deliver performance, catering to the needs of its consumers.
They have 2 flagship brands under them. The first is Fast&Up. This is India’s largest effervescent nutrition manufacturers. It uses innovative Swiss technology and EU-compliant manufacturing units to create an active lifestyle segment. They were the prime nutrition partner to Bengaluru FC for ISL 2021. They are well established in both India and Italy. Currently, they are entering European and American markets.
Their next brand is Chicnutrix. Launched in 2019, it is an all women’s wellness, beauty and nutrition brand. Since its inception, the brand has grown 4x and expanded into 5+ geographies. Its portfolio consists of 8 products in different segments ranging from skincare and healthcare to UTI and PCOS products.
Fullife Healthcare has received funding from notable names like Rakesh Jhunjhunwala who raised $3.3 to $3.9 million. Sixth Sense Ventures had raised $2 million and Akash Prakash (of Amansa Capital) had raised $6.6 million. Kotak Securities had also taken a part in the funding.
Will such investments help our Indian brands to expand their domestic presence globally?