What’s Up Wellness will utilize the funds to ramp up its team, scale its operations and develop an array of new products
Mumbai: Gurugram-headquartered digital-first wellness brand What’s Up Wellness has raised equity funding of Rs 14.40 crore in its latest seed funding round, the company announced in a press release on Wednesday. The funding round was led by its sole new investor, Unilever Ventures, the venture capital arm of FMCG major Unilever.
This marks Unilever Ventures’ first investment in a health and wellness company.
What’s Up Wellness will utilize the amount raised through this seed round towards ramping up its team, furthering growth and scaling efforts and developing an array of new products. The round also saw participation from a few of What’s Up Wellness’ existing angel investors, who added on to their previous investments to contribute towards the company’s latest fundraise.
Speaking on their latest fundraise, Sayantani Mandal and Vaibhav Makhija, co-founders, What’s Up Wellness said, “This is yet another significant milestone in our journey of building What’s Up Wellness as a trailblazer for the D2C wellness and nutrition space in India. We hope to gain immense learnings, invaluable insights, best practices, and benchmarks, from the journeys of Unilever Ventures’ portfolio companies worldwide.”
Pawan Chaturvedi, Partner-Asia at Unilever Ventures said, “ India presents a large opportunity for the wellness segment and What’s Up Wellness, with its innovative and modern formats, aims to capture this fast-transforming market. We are excited to be early supporters of What’s Up Wellness in its next growth phase.”
Prior to this, in 2022, the company had raised an angel funding round from a clutch of angels, including co-founders of leading consumer brands like Sirona Hygiene and Clovia. Thereafter, What’s Up Wellness got featured on Shark Tank India Season 2, wherein it successfully secured cumulative funding of Rs 60 Lakhs from three Sharks on the show – Aman Gupta (BoAt), Vineeta Singh (Sugar Cosmetics), and Anupam Mittal (Shaadi.com).
While currently at Rs 30 crore ARR (Annual Recurring Revenue) with a 40% repeat customer rate, What’s Up Wellness aims to become a Rs100 crore brand within the next two years. By the same time period, the company plans to launch around 12 new products, fulfilling varied wellness-related use cases for its users.
What’s Up Wellness, co-founded by Sayantani Mandal and Vaibhav Makhija in May 2021 has launched four flagship products – What’s Up Beauty Gummies for Hair, Skin, and Nails; What’s Up Sleep Gummies with Muscle Recovery and Nerve Relaxation; What’s Up Stress Relief Gummies; and What’s Up Kids Gummies.
Unilever Ventures, the venture and growth capital arm of Unilever, empowers entrepreneurs with ideas and ambitions to transform the world.
