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Vegan Wellness Brand Raises $1 Mn In Pre-Series A Round

Fitspire, a vegan health and wellness brand, has raised $1 million in a bridge round to prepare for its Series A funding led by Anan Agarwal, promoter of McDonald's India (North and East), MM Agrawal Group (MMG) and angel investors from AKG Financials.

By Jitendra Das
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Vegan Wellness Brand Raises $1 Mn In PreSeries A Round

Fitspire, a vegan health and wellness brand, has raised $1 million in a bridge round to prepare for its Series A funding. The round was led by Anan Agarwal, promoter of McDonald's India (North and East), MM Agrawal Group (MMG) and angel investors from AKG Financials, at a valuation of Rs 100 crore (around $12 million).

The startup plans to use the new funds to strengthen its ecosystem, expand in the market, build its brand and create new revenue sources.

read also- Apex Kidney Care bags $9Mn funding from Blue Earth Capital AG

Vipen Jain, founder and CEO of Fitspire, said, "Our goal is to make healthy eating convenient, accessible, and enjoyable for everyone. This investment will serve as a catalyst for Fitspire's next phase of growth. We plan to strategically allocate these funds to drive expansion across new product lines, accelerate our quick commerce capabilities, strengthen our offline business initiatives, and explore international business opportunities. Our sales have already seen significant growth of over 150 per cent this year, driven by increased consumer demand."

Earlier this year, Fitspire owned by Starcap Wellness Pvt Ltd, raised funds from investors such as the Jaipuria family office Ruchirans-Anuraag, Sohil-Ashish Chand, and LC Nueva Capital, among others.

Fitspire aims to capture 2% of India's nutrition market, which is currently worth around USD 11.85 billion and is expected to grow to USD 28.70 billion by 2032.

About Fitspire 

Founded in 2020 by Vipen Jain, Nidhi Jain and Hinah Sawhney, Delhi-based Fitspire aims to capture 2% of India's nutrition market, which is currently worth around $11.85 billion and expected to grow to $28.70 billion by 2032.

As part of its growth strategy, Fitspire is launching new products like protein shakes, protein cookies, protein chips, protein spreads and protein-rich bakery items.

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