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Fitday nutrition brand of multigrain chips & millet bars gets funds infusion from GMB investment
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Wednesday, 11 September, 2024, 08 : 00 AM [IST]
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Our Bureau, Bengaluru
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Fitday, a leading nutraceutical startup in India, has received a strategic investment from GMB Entertainment owned by filmstar Mahesh Babu. This, according to Fitday marks a significant milestone in its mission to revolutionise the nutrition and healthy snacking industry.
With a presence in over 10,000 stores, it has established a strong foundation in the retail market. The company noted that Babu’s investment will help amplify its retail footprint and support its expansion into new markets. The partnership not only reaffirms its commitment to promoting health and wellness but also highlights the brand’s potential for growth and innovation within the nutraceutical industry. Babu’s involvement brings increased credibility and visibility, attracting a wider audience and driving potential growth in a competitive market, stated the company communication.
India’s nutraceutical sector has seen significant growth, driven by a shift in consumer behaviour. A report by Avendus has forecasted that India is the fastest growing health food market, expanding at 20% CAGR, which is 3x the global average. It is set to become a Rs 2.5 lakh crore market opportunity by 2026. This growth is supported by rising health awareness, increasing disposable incomes, and favourable government policies.
Since its inception, it has gained traction in the consumer health and nutraceutical sectors. It has transformed the healthy eating and snacking market with products like multigrain chips and millet bars, as well as plant proteins and dietary supplements.
Babu said, “I’m thrilled to support Fitday's pioneering work in the nutrition, snack, and nutraceutical markets. Their commitment to innovation and quality deeply resonates with my values. I believe their new product line will set industry standards. This investment reflects my strong belief in their vision and their ability to impact health and wellness across India.”
Suresh Raju, founder and CEO, Fitday, said, “We’re grateful to have earned the trust of superstar Mahesh Babu. While we've received numerous investment proposals, we’ve been strategic in choosing the right opportunities, always prioritizing partnerships that align with our vision.”
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