The current round of Pre Series A funding raises the valuation of Wellversed close to INR 100 Crore.
Mumbai, 30th October, 2020: India’s first full-stack nutrition brand, Wellversed (www.wellversed.in) has successfully closed its Pre-Series A funding round with the legendary cricketer and serial entrepreneur Yuvraj Singh, who has also come onboard as Brand Ambassador for 3 years and will be closely working with the Founding Team to scale the business. With this round of funding, The Nutrition-based Healthcare startup has achieved a valuation close to INR 100 crores.
Wellversed has products that span across 8 nutrition regimes and is the number 1 brand, as per market share, in the ketogenic and the low-carb segment. The company fulfils 50,000 product units per month and has witnessed a robust growth of over 250% in the last year. Having facilitated more than 12000 Health Transformation Plans for weight loss, skin health, hair care and sexual health, over 40% of the company’s revenue is direct-to-consumer through their own website. Wellversed products are available across 25 online channels including their own website, Amazon, LBB, Big Basket, 1MG, Healthkart, Qtrove, Milk Basket and more.
Speaking on the same, Yuvraj Singh, Founder, YWC Ventures said “During my battle with cancer, I realised the importance of maintaining a good nutrition regime for our overall health and wellness. Wellversed is redefining the way nutrition and food products are crafted. It is not just another nutrition brand to me, it’s a technological innovation that paves the way for a fundamental change in the entire nutrition ecosystem. I am highly impressed by the energy, passion, and in-depth expertise of the founding team, whose core values resonate with those of YouWeCan. The brand’s Health Transformation Plans further differentiate it from any competing offering and I am confident that it will soon become one of top Global brands”.
Wellversed was founded by Aanan Khurma with the goal of healthspan maximization while pursuing his research into clinical nutrition while at the Microsoft Ventures Accelerator in Israel. He then joined forces with Industrial Designer Aditya Seth to design specialized food production equipment and fellow Stanford Biodesign alumni Ripunjay Chachan to lead the business operations, both of whom came on board as Co Founders. The founders jointly build a unique technology based micro-manufacturing structure that enables the company to manufacture a large number of SKUs at lower volumes. This, coupled with its software style sprint approach to craft and improve products – allows the company to launch new products and improve them at an unprecedented speed. Having dominated the ketogenic space with its product KETO product line (Ketofy, www.ketofy.in), Wellversed has now scaled across all nutrition regimes including intermittent fasting, vegan, diabetes, gluten-free, high-protein, immunity regimes and more.
Wellversed was initially incubated by Huddle and then had received angel investment by some of the most seasoned investors i.e. Alok Mittal, Govindarajan Parthasarathy, Shankar Narayanan, Tejinderpal Miglani, Rohit Chanana, Amit Choudhary and others.
Speaking on the development, Aanan Khurma, Co-Founder & CEO, Wellversed said, “Yuvraj Singh has a high synergy with our brand in terms of the change that we aim to bring to the society at large. He has high faith in the intent and expertise of our team, as we take on the challenge of redefining the way food and nutrition is perceived and consumed by people. Having gone through his own unique journey as an elite athlete as well as a cancer survivor, Yuvraj understands the role nutrition plays in health and wellness, thereby bringing the much-needed knowledge and energy to the team. We extend our heartfelt gratitude to the legendary cricketer and an inspirational personality for trusting Wellversed and its vision of creating the first full-stack nutrition brand in the world. Credit is also due to Yuvraj Singh’s portfolio company Creator’s Gurukul for helping stitch this association.”
This association will help Wellversed to scale expansion in newer markets, upgrade technology, and strengthen the company’s supply chain and R&D. The company has already gained a strong presence in metropolitan and tier-1 cities and aims at expanding across rapidly growing tier-2 cities as well as entering new International Markets in the near future. The company plans to raise its Series A round of investments in early 2021.