Artificial intelligence-backed nutrition platform GetSupp, on Thursday said it has raised Rs 9.5 crore (around $1.1 million) in a seed funding led by General Catalyst and Better Capital.
The round also saw participation from marquee angel investors including We Founders Circle, Saurabh Garg (NoBroker founder), Ankit Nagori (Curefoods founder), Kunal Shah (Cred founder), Rohit Kapoor (global chief marketing officer at Oyo) and Mohit Sud (vice president-marketing at Unilever), among others.
The Bengaluru-based startup plans to use the fresh capital to scale its tech product and marketing.
Founded earlier this year by Arpit Gupta and Deven Vyas, GetSupp is a nutrition and food supplements marketplace which helps users understand and discover the best supplement for them.
“As of now, the entire journey from discovery to right usage to adherence is broken and that is the reason why penetration of supplements is miniscule when compared to other countries. GetSupp helps customers discover the right supplements,” said Gupta, co-founder and CEO of GetSupp.
“India is heavily nutrient-deficient and everyone discovers this at some point. But there is no solution that helps them comprehensively from learning about the deficiency correctly to starting the use of supplements and getting help for ongoing adherence. GetSupp is addressing exactly this problem with a solution,” said Vaibhav Domkundwar of Better Capital.
The nutritional food space has been some action in the recent past both on the investment and merger and acquisition (M&A) fronts lately. Last week, health food startup The Healthy Company said it had secured an undisclosed sum in a pre-Series A round led by Inflection Point Ventures.
Earlier this month, Nifty constituent Cipla’s consumer healthcare arm Cipla Health announced the acquisition of nutritional supplement company Endura Mass from Medinnbelle Herbalcare Pvt. Ltd.
Founded in 2000, General Catalyst invests across stages. In 2020, the venture capital firm received capital commitments of $2.3 billion across three new funds: a $600 million early-stage fund, a $1 billion growth fund and a $700 million “endurance fund” to invest in large companies. Meanwhile, founded in 2018 by Silicon Valley entrepreneur Vaibhav Domkundwar, Better Capital invests in businesses. It plans to invest in 35-40 companies in the pre-seed and seed rounds across sectors with the median check size being $300,000.
Maternity and children's products startup, The Nestery, on Thursday said it has raised over Rs 6 crore (around $752,000) as a part of its pre-Series A funding led by Inflection Point Ventures.
The Bengaluru-based, operated by Yellow Birds Retail Pvt. Ltd, will use the fresh capital for team expansion, strengthen technology and producing original content.
Founded in 2019 by Vaishnavi R, T S Viswanathan and Aparna Vasudevan, The Nestery is an online marketplace for maternity and children's consumer brands. They claim to curate premium quality brands spanning an entire parenting journey from pregnancy to teenage years. The startup has also won a Sequoia Spark Fellowship Grant of $100,000.
“We want to use our catalog to help parents discover the right products at the right time on their parenting journey. We are looking forward to collaborating with Inflection Point and scaling this business along with all stakeholders,” said Vaishnavi R, founder and chief executive officer of The Nestery.
“The Nestery’s guidance at the initial stage on what to purchase, when is the right time to introduce the child to a product and why one should be exposed to a particular product provides an edge to anxious parents who are entering uncharted territory. This can also help parents save a lot of money and reduce the clutter of buying more than required. IPV looks forward to helping the company scale its business,” said Vinay Bansal, founder and CEO of Inflection Point Ventures.
Inflection Point Ventures is an angel investing platform with over 7,100 CXOs, HNIs, and professionals under its umbrella. The firm supports new-age entrepreneurs by providing them with monetary and experiential capital and connecting them with a diverse group of investors.