Matrix Partners India announced today that it has invested $5 million in a Series A funding round in OZiva, a clean-label, plant-based nutrition brand. The round also saw participation from existing investor Titan Capital.
The infusion of capital will be used to invest deeper in R&D, technology, team expansion, as well as widen their customer base.
OZiva was founded by Aarti Gill and Mihir Gadani in mid-2016, with the vision of building India’s leading clean, plant-based nutrition brand. The brand’s core differentiator lies in building a nutrition & fitness ecosystem that combines the best of ancient sciences such as Ayurveda, modern micronutrients, and an instantaneous digital community altogether. It has products ranging from everyday fitness to skin & hair nutrition. OZiva specifically serves the 18-55-year-old age group, with women as their primary target audience.
”We started OZiva with a simple vision of enabling millions of people to be healthier & better. Being pioneers in the Clean, Plant-based Nutrition space in India - we invested our energies in educating consumers & building the category. Having a strong digital ecosystem & personalised consultations has helped us in delivering more than just the product & has reflected in our growth numbers as well as unit economics. We will keep investing & creating solutions focusing around 3 pillars of fitness - nutrition, workouts & mental wellness,” said Aarti Gill, Co-founder, OZiva.
India is on the cusp of a massive growth in the nutritional segment with the Indian nutraceuticals market size at over $5 billion today, and is expected to double in the next 5 years. This has coincided with increasing levels of awareness around clean-label nutritional benefits, as well as, a real need for high quality, scientific solutions that cater to the needs of modern Indians. Benefiting from these twin engines, OZiva says it has seen increasing adoption for its products across the country. OZiva has also created deeper engagement with its audiences by offering personalised consultations for all customers, the company said in a statement.
“At Matrix, we are excited about backing the best new-age consumer brands and firmly believe in the potential of the under-tapped health and nutrition space in India. OZiva symbolises the future of wellness and nutrition, with its vision to be the #1 Plant-based nutrition brand in the country. Its maniacal product focus using the highest quality ingredients, as well as leveraging the power of content and community to educate and learn from consumers makes it a truly differentiated offering. We are thrilled to partner with Aarti and Mihir on this journey”, said Sanjot Malhi, Director, Matrix India.