Nutrabay, a direct-to-consumer (D2C) retail brand specializing in nutritional supplements, has successfully raised $5 million in its Series A funding round. The investment was led by RPSG Capital Ventures, with additional participation from Kotak Alternate Asset Managers Limited. This marks the first institutional funding round for the Gurugram-based company, which plans to utilize the capital to expand its omnichannel presence and drive new product innovation.

Founded in 2017 by Sharad Jain, Shreyans Jain, and Divya Prakash Jain, Nutrabay operates as a multi-brand retail platform, offering products from over 100 brands alongside its private label under the Nutrabay name. These products are available through its D2C website, major eCommerce platforms, and offline supplement stores.

The Indian nutritional supplements market is projected to reach a valuation of $28.70 billion by 2032, growing at a compound annual growth rate (CAGR) of 10.7%. Leveraging this growth, Nutrabay aims to establish itself as a leading horizontal brand across three core categories: sports nutrition, vitamins, minerals, and supplements (VMS), and health food & drinks.

Nutrabay currently offers over 70 products and reported an 80% growth in FY24 compared to the previous fiscal year. The company plans to expand its product portfolio by adding over 50 new products in the coming year, further solidifying its position in the competitive nutritional supplements market.