WishNew Wellness, a wellness solutions provider, said Wednesday it has secured $250,000 in an angel funding round at a valuation of $5.65 million.
The round was led by a group of alumni from the Indian Institute of Technology (IIT) Delhi and Ankit Khandelwal, International Strategy Leader at FICO.
Other investors include DotPe co-founder Gyanesh Sharma, IIT Delhi and INSEAD alumnus Abhijeet Rana, and Ashish Singh, former Nykaa executive and CTO of Virtualness.
The fresh funds will help the startup to enhance its research and development efforts, expand its product portfolio, scale manufacturing and distribution capabilities, and invest in marketing and brand-building initiatives, it said in a statement.
WishNew Wellness co-founder Pranshu Singh said, "This infusion of capital will be instrumental in scaling our operations to meet the growing demand for our products. We're focused on optimizing our supply chain, enhancing our digital platforms, and strengthening our retail partnerships."
WishNew Wellness offers a range of health and wellness solutions, including nutritional supplements, skincare products, fitness aids, and mental wellness products.
The IIT Delhi Alumni Investors Group is a network of angel investors made up of IIT Delhi graduates. The group focuses on supporting early-stage companies with innovative technologies and solutions that have the potential for significant impact in their respective industries.
