Nutrition brand Wellversed has successfully closed its Pre-Series A funding round with cricketer and serial entrepreneur Yuvraj Singh, who has also come on board as a brand ambassador for 3 years and will be closely working with the founding team to scale the business. With this round of funding, the healthcare startup has achieved a valuation of close to Rs 100 crore.
Wellversed has products that span across 8 nutrition regimes. The company says it fulfils 50,000 product units per month and has witnessed a robust growth of over 250% in the last year. It adds that having facilitated more than 12000 Health Transformation Plans for weight loss, skin health, hair care and sexual health, over 40% of the companyâ€™s revenue is direct-to-consumer through its own website. Wellversed products are available across 25 online channels including its own website, Amazon, LBB, Big Basket, 1MG, Healthkart, Qtrove, Milk Basket and more.
Yuvraj Singh, Founder, YWC Ventures said, â€śDuring my battle with cancer, I realised the importance of maintaining a good nutrition regime for our overall health and wellness. Wellversed is redefining the way nutrition and food products are crafted. It is not just another nutrition brand to me, itâ€™s a technological innovation that paves the way for a fundamental change in the entire nutrition ecosystem. I am highly impressed by the energy, passion, and in-depth expertise of the founding team, whose core values resonate with those of YouWeCan. The brandâ€™s Health Transformation Plans further differentiate it from any competing offering and I am confident that it will soon become one of the top global brands.â€ť
Wellversed was initially incubated by Huddle and then received angel investment by some of the most seasoned investors i.e. Alok Mittal, Govindarajan Parthasarathy, Shankar Narayanan, Tejinderpal Miglani, Rohit Chanana, Amit Choudhary and others.
This association will help Wellversed to scale expansion in newer markets, upgrade technology, and strengthen the companyâ€™s supply chain and R&D. The company has already gained a strong presence in metropolitan and tier-1 cities and aims at expanding across rapidly in growing tier-2 cities as well as entering new international markets in the near future. The company plans to raise its Series A round of investments in early 2021.
Speaking on the development, Aanan Khurma, Co-Founder & CEO, Wellversed said, â€śYuvraj Singh has a high synergy with our brand in terms of the change that we aim to bring to the society at large. He has high faith in the intent and expertise of our team, as we take on the challenge of redefining the way food and nutrition is perceived and consumed by people. Having gone through his own unique journey as an elite athlete as well as a cancer survivor, Yuvraj understands the role nutrition plays in health and wellness, thereby bringing the much-needed knowledge and energy to the team. We extend our heartfelt gratitude to the cricketer and an inspirational personality for trusting Wellversed and its vision of creating the first full-stack nutrition brand in the world. Credit is also due to Yuvraj Singhâ€™s portfolio company Creatorâ€™s Gurukul for helping stitch this association.â€ť