Mumbai, October 27: Nutrition and wellness brand Neulife has announced that it has secured a funding of USD 1 million (over ₹8 crore). The funding marks the first time that the company has raised external funds. The seed-funding round was co-led by Subhkam Ventures and Singularity Ventures. The funding round also saw participation from Sunicon Ventures, Cosma Ventures, and some high-net-worth individuals (HNIs)
Neulife is an Indian nutrition and wellness brand, which was founded in 1999 by Samit Gupta. The company is engaged in manufacturing and retailing sports nutrition supplements and wellness products. The company is headquartered in Mumbai, Maharashtra and is still a private unlisted company.
Plans To Raise Additional Funds of USD 3 Million
Apart from the USD 1 million funding, the company plans to raise an additional amount of USD 3 million by the end of 2026. The company’s main aim is to fund its next phase of expansion through utilising the raised funds. The company plans to utilise the money raised for product innovation, research and clinical trials, expansion of its protein products portfolio, and for global growth.
The new funding is likely to help the company in expanding its customer base by increasing the number of products and improving their quality. The company is targeting 15% market share in India’s premiumised protein segment by 2028.
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