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Home / Companies / Start-ups /  Nua raises $7.1 million in pre-Series B funding round led by Lightbox

BENGALURU: Women wellness brand Nua has raised $7.1 million as part of its pre-series B funding round, led by existing investor Lightbox Ventures.

Vindi Singh Banga and Kamini Banga of the Banga family office and Kae Capital also participated in the round. The brand also added Deepika Padukone as an investor who will work closely with Nua to ideate and create new wellness solutions.

According to the startup, it will use the fresh proceeds to invest in its community, new products, and technology and focus on scale.

“Our approach from the beginning has been to focus on building holistic solutions comprising safe products, tailored content, and a community that women can lean on for all things wellness. This approach has really paid dividends. Despite all the challenges of 2020, we were able to accelerate our growth completely on the back of a highly loyal customer base. Yet, we feel we have merely scratched the surface," said Ravi Ramachandran, chief executive officer (CEO, and founder, Nua.

With Nua, women can enjoy recurring doorstep deliveries of sanitary pads and other healthcare products at their chosen frequency, buy products on their terms, and be a part of a deeply engaged online community. The company also focuses on challenging taboos around menstruation by leveraging its vibrant online community and customers of over 4 lakh women.

“Since inception, Nua has displayed a deep understanding of women's evolving needs for wellness. They’ve pioneered the subscription model for menstrual products in India that lends itself perfectly to this category. This was possible due to the strong community they've built on trust, giving consumers a deeper connection with the brand. We are confident of the team’s approach and capabilities to change this category for the better," said Prashant Mehta, partner at Lightbox.

“Women’s health, particularly in a country like India which has cultural taboos about menstrual health has been neglected for far too long. The potential impact of Nua could be revolutionary," said Vindi Banga.

Earlier this year, Nua launched the second leg of its Project Prerna in partnership with Rotary Club, PRIDE, and Magic Bus. Through the programme, Nua supplied menstrual personal hygiene product kits to over 15,000 frontline women workers in Maharashtra and rural India.

Project Prerna was originally launched at the beginning of the covid-19 pandemic where Nua distributed 300,000 sanitary pads to 30,000 women in low-income neighborhoods of Mumbai and Maharashtra.

Nua had raised $4 million in 2019 from Lightbox Ventures and Kae Capital.

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