Plix, a herbal supplement brand, raised $ 5 million in Series A funding from Guild Capital and RPSG Capital Ventures.
The funds will be used to launch several new nutraceutical products that address important health issues, it said.
“Over 85 SKUs are planned for the next 12 months. The company is also looking for new executives, is strengthening its R&D team and opening up new markets, ”the statement said.
Rishubh Satiya, Co-Founder of Plix, said, “The vision with which we started the company has grown stronger with the recent pandemic highlighting the importance of a plant-based diet to overall health and wellbeing. Plix aims to reach ₹ 500 crore by 2024.
The start-up, founded in March 2019, sells products in various categories such as weight loss, hair and skin nutrition, daily wellness, daily wellness, women’s health and training supplements.
Apoorv Gautam, Chief Operating Officer and Head of India Investments, Guild Capital, said, “Plix has effectively created a unique brand that is accessible, approachable and fun. We look forward to working with a young, dynamic and very data-driven team.
Abhishek Goenka, Head & CIO, RPSG Capital Ventures, added, “The founders of Plix have a strong vision – to achieve growth based on enabling people to live healthy lives through holistic wellbeing. The taste profile and convenience of consuming Plix’s products helped generate strong customer love and solid growth in a short period of time. “
Plix products are available on the most popular e-commerce platforms such as Amazon, Flipkart, Nykaa and their own website.
