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Plix raises $5 million in Series A funding
- The company will use the funds to launch new products in the nutraceuticals segment tackling key health concerns
Clean-plant based nutrition, Plix, has raised $5 million as a part of its Series A round from Guild Capital and RPSG Capital Ventures, the company said on Wednesday.
According to the company, it will use the funds to launch new products in the nutraceuticals segment tackling key health concerns. With the fundraise, the company will also look to hire senior talent to its leadership team, and focus on entering newer markets.
Founded in March 2019, Plix provides wellness products in the nutraceutical space and looks to replace conventional formats of pills with delicious gummies, superfood powders, and effervescent tablets. The company has products across categories such as weight loss, hair and skin nutrition, daily wellness, women’s health, and workout supplements.
“Plix is working towards eliminating the presence of junk goods, carbonated drinks and unhealthy foods from dinner tables in India and replace them with clean, plant-based nutritional foods. The vision with which we started the company has grown stronger with the recent pandemic highlighting the importance of a plant-based diet for all-round health and well-being," said Rishubh Satiya, co-founder, Plix.
The company plans to launch 85 new stock units over the next 12 months, it said in a statement.
“Plix has effectively carved out a unique brand that is accessible, approachable, and fun. In addition to their phenomenal growth, we were very impressed by the amount of customer love that the brand is receiving which is evident by the industry-leading net promoter score," said Apoorv Gautam, chief operating officer and head of india investments, Guild Capital.
The company also added that it aims to reach a scale of ₹500 crore in gross sales by 2024.
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First Published:15 Dec 2021, 06:43 PM IST
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