Power Gummies secures USD 6 million in 9Unicorns-led Series A funding

By Akshay Kedari  Date: 2022-01-11

Power Gummies secures USD 6 million in 9Unicorns-led Series A funding

Nutraceutical startup Power Gummies has reportedly raised USD 6 million during a Series A funding which was led by 9Unicorns. The round also saw participation from other investors such as NB Ventures, Sharpp Ventures (Marico Family Office), Wipro Consumer Care Ventures, DSG Consumer Partners, and Vcats. 

Power Gummies intends to revolutionize the nutraceutical market in India and will use the fresh funds to expand its reach locally as well as on a global level. The company is also planning to use the funds to strengthen its marketing capabilities and establish a large team to develop new and innovative dietary supplements.

It is worth noting that Power Gummies had managed to secure its first funding from Alfa Ventures back in 2019. It then received two additional fundraising in 2020, one of which was a seed funding round led by Venture Catalysts as well as the DSG Consumer Partner.

Meanwhile, the second was a bridge funding round which was headed by Agility Venture Partners, with added participation from DSG Consumer Partners along with Vcats.

Divij Bajaj, the founder and CEO of Power Gummies stated that the brand is all set to put its mark on the global nutraceutical industry using the newly raised funds. The company is also looking forward to introducing new products and scaling globally.

Managing Partner at Wipro Consumer Care Venture Sumit Keshan mentioned that the Indian nutraceutical market has been expanding significantly since the last few years, further likely to expand at 20% in the upcoming years.

Given the growing demand for convenience, Power Gummies could gain some significant traction, especially due to the company’s high-quality products, strong leadership, and hard-working team.

As of now, Power Gummies has four variants and intends to introduce at least 45 more in the subsequent timeframe. 

Source credits –

https://www.moneycontrol.com/news/business/power-gummies-raises-6million-funding-from-9unicorns-others-7918991.html

About Author

Akshay Kedari     aeresearch.net

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Tesla gets German nod to develop test cars at unfinished Berlin factory

Tesla gets German nod to develop test cars at unfinished Berlin factory

By Akshay Kedari

Tesla Inc. has reportedly received authorization to produce test cars at its unfinished German gigafactory. This approval comes as the EV maker continues to wait for the project's final permission, although Tesla will not be permitted to sell the...

Marriot establishes a research & development lab to promote innovation

Marriot establishes a research & development lab to promote innovation

By Akshay Kedari

Hospitality behemoth Marriott International Inc. has reportedly established a research and development lab called the “Design Lab” to strengthen and optimize the rollout of its current product offerings. This lab will encompass all areas...

Sony to steer into the electric vehicle space with a new mobility unit

Sony to steer into the electric vehicle space with a new mobility unit

By Akshay Kedari

Sony will establish a subsidiary, ‘Sony Mobility Inc.’ that will primarily focus on its EV business. The company unveiled a new electric SUV prototype, called the Vision-S 02 at CES 2022. Sony Group Corporation, a Japanese electroni...

Apple becomes world's first company to reach USD 3 trillion valuation

Apple becomes world's first company to reach USD 3 trillion valuation

By Akshay Kedari

Apple Inc. recently became the first company to have a stock market value of USD 3 trillion, boosted by investor confidence that the iPhone manufacturer will continue to release best-selling products while foraying into new markets such as self-drivi...

AIMMO bags USD 12 million to develop faster data labeling technology

AIMMO bags USD 12 million to develop faster data labeling technology

By Akshay Kedari

AIMMO, a Korean firm that labels and categorizes image, video, sound, text, and sensor fusion data with software and humans, recently announced that it bagged USD 12 million in a Series A funding round to enhance its AI data annotation platform and e...