A family health nutrition and protein supplements brand, Fitspire, has successfully secured USD 1 million in a bridge round for Series A preparation. The funding round was led by McDonald's India (North and East) Promoter Anant Agarwal, MM Agrawal Group (MMG), coupled with angel investors from AKG financials at a valuation of more than INR 100 crore which comes to about USD 12 million.
Furthermore, Fitspire had raised funds from investors earlier this year which included the likes of Jaipuria family office Ruchirans - Anuraag, Sohil-Ashish Chand - LC Nueva Capital, Dheeraj Jain - Redcliffe Group Amit Singhal - Fluid Ventures and Ivor Braganza - Next 5 Ventures Oman, and also by international singer Sukhbir Singh.
This Delhi-based startup is said to utilize the funds to further make its ecosystem robust while steering its market expansion, creating new revenue streams, and building the brand.
The start-up was established back in 2020 by Vipen Jain, Nidhi Jain, and Hinah Sawhney, wherein, it aims to capture 2 per cent of the total nutrition market in India. It is currently valued at approximately USD 11.85 billion and is expected to witness an upsurge of USD 28.70 billion by 2032.
Adding to this, Fitspire is also launching a new range of innovative products as part of its expansion plans, including protein cookies, protein chips, protein shakes, protein-enriched bakery products, and protein spreads.
