OZiva, a plant-based nutrition brand, has raised US$ 5 million, as part of Series A round, led by Matrix Capital India. The funding round also witnessed the participation from existing investor Titan Capital.
The company plans to use these funds to boost Research and Development (RandD), technology and expand its team along with widening customer base.
It was founded by Ms Aarti Gill and Mr Mihir Gadani in 2016. 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 Ms Gill, co-founder, OZiva.
The target audience of company is mainly 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 Mr Sanjot Malhi, director, Matrix India.
Presently, several start-ups in India are 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.
Matrix Partners has also invested in other food and nutrition start-ups including, Nothing Else, a clean label food brand; Open Secret, an FandB brand focused on the healthy snack market; Delight, a direct-to-home, mass premium milk brand, Mosaic Wellness, a lifestyle and wellness consumer brand; aandMe, a FandB brand focused on women’s health and wellness.