ACG-Capsules, a pharmaceutical business, is leading Wellbeing Nutrition, a direct-to-consumer health and wellness startup, in raising Rs. 25 crore (about $3 million) in debt funding. Maheshwari Investors Pvt Ltd, MGB Advisors, and Atmos Finance are also involved.
According to Wellbeing Nutrition's regulatory filing obtained from the Registrar of Companies (RoC), the board adopted a special resolution to issue 2,500 optionally convertible debentures (OCDs) at an issue price of Rs. 1,00,000 apiece in order to raise Rs. 25 crore, or $3 million.
Maheshwari Investors, MGB Advisors, and Atmos Finance will each contribute Rs. 5 crore, with ACG leading the round with an investment of Rs. 10 crore. The corporation will use these cash for capital and working capital expenditures as well as other general business operations, according to papers.
Wellbeing Nutrition is a whole-food nutrition firm that was founded by Avnish Chhabria with a focus on plant-based components to support general wellness. Its product line includes remedies for headaches, digestive health, hair loss, sleep issues, everyday wellbeing, and skincare.
The D2C company has funded about $14 million so far, including a $10 million Series B investment from Fireside Ventures and Hindustan Unilever (HUL) in December 2022, according to startup data analytics platform TheKredible.
Wellbeing Nutrition reported operational revenue of Rs. 70 crore for the fiscal year that ended in March 2024, but it also had a loss of Rs. 32 crore during that same time frame.
