Singapore DSG Consumer Partners invests in Mumbai start-up

  • 3 June 2020
Axys Nutrition Products has closed a pre-seed funding round to continue research-driven product development
Akshay Pai, founder and chief executive of Nutrova
Nutrova founder Akshay Pai. Photo as seen on yourstory.com

Mumbai-based company Axys Nutrition Products has closed a pre-seed funding round with an investment from DSG Consumer Partners. Headquartered in Singapore, DSGCP focuses on identifying, investing in, and growing consumer businesses in India & Southeast Asia.

Deepak Shahdadpuri, managing director of DSG Consumer Partners, said the company has been actively looking at emerging brands in India’s health and wellness segment to expand the company’s portfolio.

Axys is developing evidence-based nutritional products under the brand name Nutrova. The company was founded by Akshay Pai in 2013.

“As Indian consumers become more affluent, a larger share of wallet is spent on health and wellness. We believe that the evidence-based, clinical research-centred approach adopted by Nutrova will be a very important purchase consideration for customers as awareness levels increase,” Shahdadpuri told India’s food and beverage website fbnews.com.

Nutritional products

Nutrova has already secured a foothold in India’s health food and well-being sector. The company sells eight SKUs including Nutrova Collagen + Antioxidants and Nutrova Antioxidants for skin health, Nutrova Kerastrength for hair health, Nutrova Complete Omega 3, Nutrova Functional Fibre, Nutrova Whey Protein Isolate, and Nutrova Pea protein for fitness and weight management.

“Our fundamental belief at Nutrova is that the right nutrition, properly delivered, can enable everyone to take charge of their health. We’re excited to partner with DSG on this journey to develop the best products possible and to make them easily accessible as well,” explained Pai.

The capital will enable the company to continue research-driven product development as well as to scale the team and presence. Pai commented: “We are confident that DSG, with their experience in the consumer space, will provide us with invaluable guidance moving forward.”

For Shahdadpuri, the founder’s commitment to the business is fundamental for the brand’s success. “Akshay has been focussed on the science and data whilst building the business in a capital-efficient manner. One of the very few businesses that are already breaking even at the time of our initial investment. We are excited to partner with him to build a leading brand in the premium nutraceuticals category,” he concluded.