Funding round led by Anthill Ventures
New Delhi-based health and wellness brand Welly has raised $400K in a Seed round from Anthill Ventures. Founded by Urvi Raghbeer, Welly was selected under Athena, a one-of-a-kind scaling program by Anthill ventures supporting women founders. The funds raised will be utilized by Welly to expand the product portfolio, increase the customer base, and grow the team among others.
The brand currently has 3 products: vitamin gummies for restful sleep, for immunity boost, and for healthy hair, skin and nails. Their current products are for adults, have science-backed formulations, are tasty and have no added sugar.
This round saw participation from Roshan Abbas, prominent angel investor, and Allu Sneha Reddy (Tollywood star of Pushpa fame Allu Arjun’s wife).
As per research, the Indian dietary supplement market is a 3.9 billion dollar opportunity, with the ’Vitamins and Minerals’ category making up for 40% of it, estimating it at a 1.5 billion dollar market size.
In an increasingly competitive environment, Welly stands out with its excellent product, unique formulations and great unit economics. Furthermore, their focus on the burgeoning sleep science ecosystem sets them as leaders in a massive and relatively untapped market. Anthill is proud to support Welly and such a strong second-time founder as Urvi,” said Kabir Kochhar, Partner at Anthill Ventures.