The pre-series A funding from Singh’s YWC Ventures values the two-and-a-half-year-old startup at Rs 100 crore, stated Wellversed Well being’s cofounder Aanan Khurma.
The corporate plans to make use of the cash primarily to scale its attain of diet and meals merchandise. Among the capital may also be used to strengthen the corporate’s provide chain and to get extra folks enrolled in its well being transformation plans.
“I need to put money into firms within the well being tech, sports activities tech, edutech and agritech sectors,” Singh instructed ET. “Wellversed was a pure selection after I got here to know their imaginative and prescient. They’ve merchandise not only for athletes but in addition for all health seekers.”
As per the phrases of the deal, Singh would be the firm’s model ambassador and also will become involved in planning new merchandise and innovation.
Wellversed was began by Khurma, Ripunjay Chachan and Aditya Seth in March 2018. Whereas each Khurma and Chachan are alumni of the Stanford Biodesign, Seth comes with a powerful background in meals manufacturing.
The three acquired Ketofy for an undisclosed quantity in October 2018.
Thus far, the corporate has raised cash from a clutch of angle and non-banking monetary traders, together with Tejinderpal Miglani, cofounder of Indiabulls, Alok Mittal, cofounder of non-banking monetary firm Indifi Applied sciences, and Rohit Chanana, founding father of Sarcha Advisors.
“We’ve got deliberate subsequent rounds and can go for Collection A spherical, value $5-6 million, in just a few months,” Khurma instructed ET.
He added, “As of now, we’re transport round 50,000 SKUs per 30 days. Through the lockdown, we suffered because of the provide chain points, however now we have now overcome it and already doubled the enterprise from pre-Covid occasions. Within the subsequent 18-24 months, we’re focusing on a 10X progress.”
Wellversed’s merchandise can be found throughout 25 on-line channels together with their very own web site, Amazon, LBB, Huge Basket, 1MG, Healthkart, Qtrove, Milk Basket and others. Thus far the corporate claims to have facilitated greater than 12,000 well being transformation plans for weight reduction, skincare, hair care and sexual well being.