This round of funding will support Fast&Up and Chicnutrix to expand their domestic presence, enhance manufacturing capabilities and accelerate momentum globally.
Fullife Healthcare raised its Series C funding of US$22 million by Morgan Stanley Private Equity Asia (MSPEA). Fullife Healthcare is the pioneer manufacturer in effervescent technology for healthcare and nutraceutical products. The company owns flagship brands Fast&Up and Chicnutrix, which are the leaders in active nutrition and beauty respectively.
Fullife Healthcare is one of the first Indian companies to take branded business outside India in the field of wellness and active nutrition. The company is dedicated towards manufacturing high-quality promising products that deliver performance, catering to the needs of its consumers.
Commenting on the capital raise, Varun Khanna, CEO of Fullife Healthcare said, “It is amazing to have Morgan Stanley as a part of the narrative we are building at Fullife and our brands Fast&Up and Chicnutrix. Our focus has always been to bring forth high-quality nutrition to India, making sure that Indians get the best-in-class supplements to keep them active and feeling good. Indians are now more aware and actively searching for products that are genuine, high quality and align with the daily needs to be healthy, active and look good. We are building these brands at an international level even in several regulated markets as a first for Indian OTC brands. With our brands being available in multiple countries, we are excited about the story we are building and are grateful for the trust that MSPEA has put in us.”
This round of 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 aggressively entering into new categories and leading the pack when it comes to providing nutrition solutions for a healthy and active lifestyle.
Nirav Mehta, Managing Director, MSPEA said, “MSPEA is very excited to invest into Fullife, which is carving a niche in the new-age nutrition, active lifestyle and wellness space through its novel effervescent and plant-based offerings. Fullife’s key brands Fast&Up and Chicnutrix are already household names, and the company is well-positioned to emerge as a leading global player in the space, backed by its wide product portfolio, in-house manufacturing capabilities, global business footprint and omni-channel distribution.”
Speaking on the occasion, Mr. Vijayaraghavan Venugopal, CEO & Co-Founder 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 as a brand. It goes to showcase our ability of what we have built so far and provide the right momentum for the future. We have a formidable team of investors, with whom this journey becomes even more exciting. India is on the cusp of a wellness and health revolution, where we believe Fast&Up is poised to be amongst the change leaders. We will continue to innovate, provide the best of nutrition and make it available to consumers far and wide!”
Ms. Shilpa Khanna Thakkar, CEO of Chicnutrix said, “Chicnutrix was started with the aim to become every woman’s Nutrition BFF for their beauty and wellness needs. Investment from Morgan Stanley validates that we are moving in the right direction. This is a huge opportunity for us at Chicnutrix and comes at a time when are looking to strengthen ourselves and expedite our vision to be a global brand. We are determined to serve our consumers with non-compromised quality products and grow bigger and better from here and continue to be a best friend to women of all age groups, assuring them that we have their needs covered. India is undergoing a tremendous revolution since the last few years, which has been accelerated by the pandemic, and today, there is a holistic approach to wellness and beauty and we are one of the pioneers in that journey.”
Source: Business World