Delhi-based Starcap Wellness Pvt. Ltd, which operates the nutrition-focussed wellness brand Fitspire, has raised pre-seed funding from angel investors.
The funding round was led by Easy To Pitch co-founders Nikhil Parmar and Priyanka Madnani, Fitspire said in a statement. Easy To Pitch is an organisation that helps startup founders pitch their ideas to potential investors.
Bollywood singer Sukhbir Singh also participated in this round, Fitspire said. It didn’t disclose the amount it raised.
In October last year, Singh had invested in a doctor-patient engagement platform. Some of his other investments include electric two-wheeler rental platform eBike Go, Nature’s Tattva and co-working space provider Nukleus.
Fitspire was founded in September 2019 by Vipen Jain and Nidhi Jain. The company says that it is a vegan and vegetarian wellness brand and that its products cater to segments including sports, general health and children.
The company will use the capital it has raised to expand its product suite as well as its market presence. The startup says it aims to cover the entire nation within six months.
“Growing consumer demand in vegan and vegetarian health supplements in recent past has led Fitspire to expand its business,” co-founder Vipen Jain said, adding that the company has grown its portfolio over the past few months.
Separately, Singh said he decided to invest in Fitspire based on the vision of its co-founders for the company as well as the company’s holistic approach to fitness.
The company says that the average price of its products is Rs 1,500 and that it will expand its suite to 15 products by the end of next month. The company markets and sells its range through online retailers such as Amazon and 1mg, as well as offline outlets such as health seminars.
The investment in the company is indicative of the interest that natural products-focussed wellness and health consumer brands have garnered from firms and angel backers in recent months.
For example, last month, VCCircle reported that A91 Partners was looking to invest in an ayurvedic food brand co-founded by a family member of well-known ayurvedic products maker Baidyanath Group.
In January, Mumbai-based ayurvedic products retailer Aadar Herbals received funding from venture capital firm Sprout Venture Partners and angel network LetsVenture.