Bangalore Clean-plant-based nutrition, Plix, has raised $5 million in a Series A round from Guild Capital and RPSG Capital Ventures, the company said on Wednesday.
According to the company, it will use the funds to launch new products in the nutraceuticals segment to address major health concerns. Along with fundraising, the company will also hire senior talent to its leadership team, and focus on entering new markets.
Founded in March 2019, Plix provides wellness products in the nutraceutical space and seeks to replace traditional forms of pills with delicious gummies, superfood powders, and snappy pills. The company has products in categories such as weight loss, hair and skin nutrition, daily wellness, women’s health and workout supplements.
“Plix is working towards eliminating the presence of junk goods, carbonated drinks and unhealthy foods from the dinner table in India and replacing them with clean, plant-based nutritious foods. The vision with which we started the company has been further strengthened with the recent pandemic, highlighting the importance of a plant-based diet for all-round health and wellness,” said Rishubh Satia, Co-Founder, Plix.
The company plans to launch 85 new stock units in the next 12 months, the company said in a statement.
“Plix has effectively created a unique brand that is accessible, approachable and fun. In addition to their phenomenal growth, we were deeply impressed by the customer love the brand is receiving, which is evident from the industry-leading Net Promoter Score Apoorva Gautam, Chief Operating Officer and Head of India Investments, Guild Capital. ,
The company also said that it aims to reach the scale of 500 crore in gross sales by 2024.
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