Matrix Partners India announced that it had invested US $ 5 million (approximately Rs 37 crore) in a Series A funding round in Mumbai-based OZiva, a clean-label, plant-based nutrition brand. The round also saw participation from existing investor Titan Capital. OZiva was founded by Aarti Gill and Mihir Gadani in 2016, with the vision of building India’s leading clean, plant-based nutrition brand.
Plant-based clean-label nutrition
According to reports, India is on the cusp of massive growth in the nutritional segment with the Indian nutraceuticals market size at over US $ 5 billion (approximately Rs 3700 crore) today. It is expected to double in the next five years. This has coincided with increasing awareness around clean-label nutritional benefits and an ever-increasing need for high-quality, scientific solutions that serve modern Indians’ needs. Benefiting from these twin engines, OZiva, has seen increasing adoption for its products across the country. OZiva also claims to have deeper engagement with its audiences by offering personalized consultations for all customers.
According to the company’s press statement, the infusion of capital will be used in R&D, technology, team expansion, and widen the customer base. “We started OZiva with a simple vision of enabling millions of people to be healthier and better. We invested our energies in educating consumers and building the category. A strong digital ecosystem and personalized consultations have helped us deliver more than just the product and have reflected in our growth numbers and unit economics. We will keep investing and creating solutions focusing around three pillars of fitness – nutrition, workouts, and mental wellness,” said Aarti Gill, co-founder, Oziva.
“At Matrix, we are excited about backing the new-age consumer brands and firmly believe in the potential of the under-tapped health and nutrition space in India. Oziva symbolizes the future of wellness and nutrition, with its vision to be on the top as a plant-based nutrition brand in the country. Its maniacal product focus using the highest quality ingredients and leveraging the power of content and community to educate and learn from consumers makes it a truly differentiated offering.”, said Sanjot Malhi, director, Matrix India.