Fullife Healthcare has raised $22 million in Series-C funding from Morgan Stanley Private Equity Asia.
The comapny which is into active nutrition, healthcare and nutraceutical products is backed by investors such as Rakesh Jhunjhunwala, Sixth Sense Ventures, Kotak Securities and Akash Prakash.
Fullife owns brands Fast&Up and Chicnutrix, which are the leaders in active nutrition and beauty respectively and the money will be used accelerate growth of these brands, Varun Khanna, chief executive of Fullife, said in a statement on Monday.
This funding will support Fast&Up and Chicnutrix to expand their domestic presence, enhance manufacturing capabilities and accelerate momentum globally. Both of these home-grown brands have been entering new categories, he added.
Nirav Mehta, managing director at Morgan Stanley Private Equity Asia, said "Fullife is carving a niche in the new-age nutrition, active lifestyle and wellness space through its novel effervescent and plant-based offerings. Vijayaraghavan Venugopal, co-founder and chief execuive of Fast&Up, said, investment from a global investor like Morgan Stanley brings a sense of validation for what Fast&Up has been doing since its inception over the past five years."
Shilpa Khanna Thakkar, chief executive of Chicnutrix said, the brand was started with the aim to become every woman's nutrition for their beauty and wellness needs. ''Investment from Morgan Stanley validates that we are moving in the right direction''.
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