A direct-to-consumer model, The Good Bug, centered on intestine well being, has secured $3.5 million in Sequence A funding, led by Fireplace Ventures, an early-stage shopper sector-focused enterprise capital fund.
In keeping with the corporate, the model makes varied probiotics for particular well being considerations. The agency was based by Prabhu Karthikeyan and Keshav Biyani, the nephew of retail magnate Kishore Biyani. It’s backed by Biyani’s daughters Ashni and Avni’s Think9 Shopper Applied sciences, which provides help to construct manufacturers with its tech, knowledge and advertising and marketing options.
The Sequence A, the corporate’s first institutional capital elevating train, will assist develop new merchandise, increase its workforce and put money into manufacturers, the corporate stated.
Launched in 2022, the corporate makes USFDA-approved merchandise for life-style power points, resembling bloating, constipation, metabolic well being and weight reduction by means of the intestine. It claims to have 100,000+ clients. The corporate is trying to clock ₹250 crore in revenues inside three years. “We purpose to pioneer and increase the intestine well being class in India, which has been an unexplored section. We’re unravelling the identical by serving to folks get to the basis reason behind core well being points and holistically resolve it,” Keshav Biyani, the co-founder of The Good Bug, stated. Biyani was the top of technique and worldwide enterprise, Future Group, moreover main the house and private care section of the now defunct group.
A number of enterprise capital-backed manufacturers specializing in well being and wellness have been launched within the final 5 years to assist fill a void within the Indian D2C providing. “As shoppers are getting extra health-conscious and on the lookout for secure and efficient options with long run advantages; we see an enormous potential for intestine well being. The Good Bug is on the forefront of this booming section with their revolutionary and efficient merchandise,” stated Ankur Khaitan, principal, Fireplace Ventures. The agency is a consumer-sector centered enterprise capital fund.
The intestine well being trade could be very nascent in India, although globally it’s rising at a quick clip. In keeping with analysis agency Market.us, the worldwide digestive well being market is estimated to be valued at $104.4 billion by 2032 and is predicted to exhibit a CAGR of 8.2% through the forecast interval 2023 to 2032. The g rising consciousness relating to the significance of dietary dietary supplements, probiotics, and practical meals is predicted to drive the market.
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Up to date: 17 Sep 2023, 11:20 PM IST
Supply: Live Mint