Setu Nutrition Secures Funding - Backed by Prominent HNIs, Business Families, and Celebrities
Oct 30, 2023
PRNewswire
Mumbai (Maharashtra) [India], October 30: Setu Nutrition (SETU), the pioneer in direct-to-consumer supplements, founded by Nihaal Mariwala and backed by the Mariwala Family of OmniActive Health Technologies, has secured substantial funding through investments made by High Net Worth Individuals (HNIs) and family offices, including tennis icon Sania Mirza.
Emerging as a key player in India's rapidly growing dietary supplement industry, SETU is committed to delivering clinical benefits through innovative formulations and providing a personalised customer experience. Its diversified product portfolio spans various categories, such as Beauty, Sleep, Weight, and Mind, with the aim of revolutionising the Indian supplements landscape.
SETU aims to grow their business 30 times over the next five years, capitalising on strong category and channel growth.
On this major milestone for SETU, Founder, Nihaal Mariwala, shared, "I am grateful for the support from our investors, who share a common vision of revolutionising the supplements category with novel products and a superior customer experience. We are experiencing a clear shift in consumers' mindsets with increased awareness around preventive healthcare, and the path that SETU has adopted is futuristic. Our five-year strategy is centred around the expansion of personalised nutrition, direct-to-consumer channel experience, and clinically tested products in the dietary supplement category."
This recent fundraising effort also attracted investments from leading investors, including Kate Dinshaw, Apurva Jain, Avinash Rajan, and the family offices of Dr. Kulin Kothari, Dr. Amit Maydeo, the Davda family, the Mody family, and the Bhogilal family.
Credence Family Office, a multi-family office founded by Mr Mitesh Shah in 2010, served as the sole advisor for the deal, highlighting their belief in SETU's potential to establish market leadership. Nitesh Arora, Managing Director of Credence Family Office, said, "We believe that SETU is well poised to be a differentiated market leader in the nutritional supplements space, which is a fast-growing and multibillion-dollar market ".
SETU's approach to nutrition is based on a simple truth: science needs to be practical in order to be effective. All products of the company are backed by extensive R&D and developed with an objective to help customers address their health problems.
About SETU
Setu Nutrition (SETU) has pioneered the direct-to-consumer dietary supplements market in India and was founded by Nihaal Mariwala, backed by the Mariwala family. With a commitment to delivering clinical benefits and superior customer experiences, SETU aims to lead the rapidly expanding $12 billion Indian supplements industry. By redefining the contours of the category, SETU aims to become the preferred personalised supplement brand of choice for Indian millennials and Gen Zers.
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