BENGALURU: Plant-based nutrition brand OZiva has raised $5 million, as part of Series A round, led by Matrix Capital India. Existing investor Titan Capital also participated in the funding round.
OZiva will use the proceeds to boost R&D spend, technology and team expansion and to widen customer base.
Founded in 2016 by Aarti Gill and Mihir Gadani, OZiva provides everyday fitness, skin and hair nutrition products.
"We started OZiva with a simple vision of enabling millions of people to be healthier and better. Having a strong digital ecosystem and personalised consultations has helped us in delivering more than just the product and has reflected in our growth numbers as well as unit economics", said Gill, co-founder, OZiva.
The company's target audience comprises women in the 18-55 age group.
"OZiva symbolizes 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", said Sanjot Malhi, director, Matrix India.
There are several startups in India focusing on plant-based nutrition products for customers. Apart from OZiva, there is also Mumbai-based EVO Foods, which offers plant-based eggs, to cater to vegetarians.
Earlier this month, actor Deepika Padukone and DSG Consumer Partners-backed Epigamia launched plant-based, dairy free yogurt line.
Apart from OZiva, Matrix Partners has also invested in other food and nutrition startups including, Nothing Else, a clean label food brand; Open Secret, an F&B brand focused on the healthy snack market; Delight, a direct-to-home, mass premium milk brand, Mosaic Wellness, a lifestyle and wellness consumer brand; a&Me, a F&B brand focused on women’s health and wellness.