Health and wellness brand Zingavita has secured Rs 10 crore in pre-Series A funding round led by Anicut Capital. The round also witnessed participation from Venkat Krishnan, Puru Gupta, Vishesh Chandiok, Nikhil Bhandarkar and other seasoned investors.
The proceeds will be channelled towards expansion into new product development focusing on targeted nutrition, Zingavita said in a press release.
Co-founded in 2020 by Sachin Goel and Dheeraj Nagpal, Zingavita is specialised offers a wide range of natural supplements that support overall well-being.
According to the Chandigarh based company, it aims to focus on the products which are devoid of harmful additives like sugar, preservatives, artificial colours & flavours and thereby, bring transparency, innovation, and efficacy to the market. Zingavita claims to have its portfolio consist of more than 25 products which are available on leading e-commerce marketplaces like Amazon, Flipkart & Tata 1mg.
Zingavita may compete directly or indirectly with companies like Dozee, What’s Up Wellness, Breath Well-being, Peping, Healthkart, Saveo et al.
Anicut Capital currently manages two debt funds – Anicut Angel Fund and Grand Anicut Fund 3. Cumulatively, it manages an AUM of Rs 1,600 crore with investments in early and growth-stage start-ups. Its portfolio include brands like Wow! Momo, Bira, Sugar Cosmetics, Earth Rhythm, Wingreens, Blue Tokai, and ShareChat, among others.