Digital-first women's wellness brand Nua has raised $50 million in a Series C round led by Peak XV and Filter Capital, the company announced on Monday.
Existing investors Mirabilis Investment Trust and Footpath Ventures also participated in the funding round. There was a secondary component to the round as well, with Kae Capital, Lightbox VC and existing investors taking partial exits from their current holdings in Nua.
“Since our inception, we have sought to address neglected needs in women's wellness through better-for-her products and a brand that genuinely speaks to today's young women and girls,” said Ravi Ramachandran, founder and chief executive of Nua, in a statement.
“This foundation has helped us build a deeply loyal customer base and scale our annualized revenue run rate from ₹100 crore to ₹500 crore in just 24 months, while remaining profitable.”
The fundraising adds to a run of large cheques flowing into India’s consumer health and femtech space, as investors bet on brands that have moved beyond niche positioning to build scale and profitability in categories long underserved by mainstream retail.
Nua said it will deploy the fresh capital towards brand building, expanding distribution, and strengthening research and development to build a wider innovation pipeline across women's wellness.
Large opportunity
“Women's wellness in India is a large and evolving opportunity, and Nua has demonstrated a strong ability to build a brand that resonates deeply with consumers. The company has emerged as the fastest-growing brand in the category and the second-largest player online, demonstrating its ability to compete and win alongside much larger incumbents,” said Sakshi Chopra, managing director at Peak XV, in a statement.
The Series C follows Nua's earlier backing from Kae Capital and Lightbox, among others, and comes as the company positions itself against larger, more established incumbents in the country's period and intimate care market.
“Nua is redefining feminine hygiene and wellness with its superior product proposition and a brand that has built a remarkable connection with consumers,” said Sumit Sinha, co-founder and managing partner, Filter Capital.
Founded in 2017, the company today serves over three million women and girls every month across period care, maternity care and intimate care, alongside digital products such as its Period Tracker App and SecretKeeper chat.