Unilever's venture capital arm, Unilever Ventures, has taken a step forward in the health and wellness sector by investing a significant sum of Rs 14.40 crore in What’s Up Wellness. This strategic move is aimed at bolstering the startup's team and enhancing its product development efforts.
In an exciting development, Unilever Ventures led the funding round, making it their maiden investment in a health and wellness company. Existing investors of What’s Up Wellness also participated in this funding round.
Pawan Chaturvedi, Partner-Asia at Unilever Ventures, emphasized the reason behind this investment, stating, "Investment in What’s Up Wellness is in line with our strategy of supporting and investing in promising indie brands in the health & wellness space. India presents a large opportunity for the wellness segment and What’s Up Wellness, with its innovative and modern formats, aims to capture this fast-transforming market."
This strategic investment comes at a pivotal time for What’s Up Wellness. The company has set its sights on utilizing the fresh capital injection to expand its team, drive growth, and escalate scaling efforts. Moreover, the funds will facilitate the creation of a range of new products designed to address significant user needs and challenges.
What’s Up Wellness has already made waves in the market, having secured funding from angel investors in 2022 and successfully securing an investment on Shark Tank India Season 2. With a focus on direct-to-consumer wellness and nutrition, the company has garnered over 2.5 lakh users in India by offering gummy supplements. The company has ambitious plans, aiming to launch 12 new products over the next two years.
Having grown over 12 times in the previous year, What’s Up Wellness is on an impressive trajectory. With a current accounting rate of return (ARR) of Rs 30 crore and a substantial 40 per cent repeat user rate, the company aspires to become a Rs 100 crore-brand within the next two years.
This partnership between Unilever Ventures and What’s Up Wellness not only highlights the potential of the wellness and health sector in India but also underscores the commitment to innovation, growth, and customer well-being. As What’s Up Wellness continues to make strides in the wellness space, its collaboration with Unilever Ventures sets the stage for even greater achievements in the future.