Delhi based startup Habbit Health and Nutrition Pvt Ltd, recently announced that it has raised an undisclosed amount as a pre-seed investment from top global investors.
VC firm 3one4 Capital and Utsav Somani of AngelList India led the round. Singapore based RB Investments, early-stage investors Better Capital and First Cheque, and multiple other well-known angel investors from around the world participated via AngelList.
With rising per capita incomes, the preventive healthcare market in India is expected to be over US$100 billion in 2022. The spending on nutrition, healthy foods, functional foods, and supplements is expected to quadruple to over US$ 50 billion in the next decade, growing at 17 per cent CAGR. Rapidly rising awareness about the importance of good nutrition is accelerating this trend in the top 10 per cent of the population which accounts for over 40 per cent of Indian consumption.
Sharing the organizational vision, Dhruv Bhushan, Co-Founder & CEO, said, “Lifestyle diseases with their origin in poor nutrition are today’s biggest health concern. Still, there has been little innovation in the consumption category, making it irrelevant for an increasingly health-aware audience. Habbit uses modern science and technologies to disrupt these with healthier alternatives, without needing to change user behavior and still maintaining the same taste. Our IP and technology make us best suited to scale rapidly and capture a slice of this over US$100 billion opportunities.”