NutrifyToday Raises $500,000 In A Seed Funding Round!
2 years ago Rituka MNutrifyToday in a seed funding round raised US$500,000 from US-based entrepreneur and research scientist Dr. Anand Swaroop. These funds will go towards product development and platform automation.
Background
The Indian Nutraceutical industry has been growing massively with disruptive scientific discoveries. With a growing demand for clean foods with nutritional values, Nutraceuticals are becoming increasingly widespread. These nutraceuticals aim at improving holistic health and strengthening bone, heart & brain health, as well as mental wellness. The global nutraceutical industry stands at about US$233.9 billion and is to reach US$358.5 billion by 2027. India is going to grow to US$8.5 billion by 2022 from US$8.5 billion in 2015, according to a joint study by Assocham and RNCOS.
Nutrify Today is a Hyderabad-based digital supply-chain platform that caters to the Nutraceutical industry. NutrifyToday’s platform enables and empowers innovative, evidence-based nutraceutical business ideas. NutrifyToday takes the idea forward through the entire process of implementation, from curated market access, product development portfolio to successful commercialization of the product. The platform consists of a network of over 10,000 CXO-grade professionals in the field of nutrition. NutrifyToday enables businesses to prosper and achieve real business goals by ensuring that all the members of their platform are tech-savvy.
Seed Funding Round
On March 11, 2022, NutrifyToday through its seed funding round raised US$500,000 from investor Dr. Anand Swaroop. These funds will go towards product development. In addition, this investment will go towards the full automation of the platform covering 20 countries. This will include product development, commercialization, and supply chain solutions to small to medium-sized companies in the nutraceutical industry.
By year-end, NutrifyToday intends to raise a new round of US$10 million in funding to expand globally. Currently, the platform has over 18000 industry networks and intends to expand it to 4,50,000 networks by 2025. Sharing his thoughts, Dr. Swaroop said; “I envision Nutrify Today as a thought leader in India’s nutrition industry with the potential to grow into a global business leader. Most importantly, I am investing in Nutrify Today to foster research, promote nutrition and upgrade technology in this vital area of food and nutrition both in India and USAâ€ÂÂ.
In the same vein, Founder Amit Srivastava, remarks; “Nutrify Today enables and empowers the Nutraceutical industry and is promoting responsible nutrition commercialization across the world using advanced technologies of AI and ML. Meanwhile, the global nutraceutical market is USD 400 billion, but the spread is uneven. Through Nutrify Today, we plan to create supply chain highways enabling faster growth of small to mid-sized innovators in other parts of the world.â€ÂÂ
