Fullife raises Rs 50 crore funding from new and existing investors
Fullife Healthcare | June 25, 2020
https://economictimes.indiatimes.com/startups/fullife-raises-rs-50-crore-in-funding-led-by-amansa-capital/articleshow/76584827.cms Fullife raises Rs 50 crore funding from new and existing investors Fullife, which manufactures and retails sports nutrition supplements under the brand name Fast&Up, has raised Rs 50 crore in a fresh financing round, in the process, bringing on board, Amansa Capital, the Singapore-headquartered investment firm founded by ace stock picker Akash Prakash, as a new investor. Mumbai-headquartered Fullife’s existing investors, Dalal Street bull Rakesh Jhunjhunwala and consumer-focused, early-stage investment firm Sixth Sense Ventures, also participated in the fundraising. This takes its total amount of funding to an estimated Rs 100 crore, according to Varun Khanna, cofounder and chief executive of the company. It last raised $2 million from Sixth Sense Ventures in 2018. Jhunjhunwala, an angel investor in Fullife, invested about Rs 25-30 crore about three years back. “This year, we are going to focus on increasing our product portfolio while catering to the required expanded capacity to cater to growing demand as well,” Khanna said. The nine-year-old company will use the proceeds from the round to expand its presence across markets, and ramp up its product portfolio. Founded in 2011, Fullife launched its flagship Fast&Up brand in late 2015, under which it retails a portfolio of about 20 products spread across three segments - immunity, fitness and wellness - and which includes Vitamin C immunity boosters, electrolytes and vegan products. It has two plants in Maharashtra and Himachal Pradesh. Apart from its home market, the company has also launched Fast&Up in the United Arab Emirates, Europe and the UK, and expects to launch in the United States over the next few months. “I am a firm believer in partnering with brands which are future-proof and show vast potential for growth. Fast&Up is undoubtedly getting it right with their focus on accessible high-quality nutrition products. Nutraceuticals is a sector which as-a-whole has immense scope and Fast&Up has an impressive track record of proven success via their unique business model,” Prakash said. Prakash, who is the CEO of Amansa Capital, served as director of investments, India, for Temasek, the investment company backed by the Singapore government. He had also spent six years at GIC, the sovereign wealth fund of the island nation, as a portfolio manager, focused on US, Pan-Asian and Indian investment portfolios.
Fast&Up signs Mayank Agarwal as brand ambassador
Fullife Healthcare | March 28, 2019
https://www.business-standard.com/article/news-ians/fast-up-signs-mayank-agarwal-as-brand-ambassador-119032800682_1.html Fast&Up, flagship sports nutrition brand of Aeronutrix Sports Products Private Limited, on Thursday announced the signing of Indian cricketer Mayank Agarwal as it's brand ambassador. Since its inception, Fast&Up has supported sportspersons, athletes and fitness enthusiasts to promote active living and the importance of nutritional supplements for enhanced performance. The brand has focused on nurturing top quality athletes representing various sports under the aegis of 'Fast&Up- Fit Squad'. The Fast&Up- Fit Squad is supporting over 100 athletes across the country. Talking about his association, Mayank said: "I take fitness and leading a healthy lifestyle seriously. It's an honour for me to partner with India's fastest growing sports nutrition brand as we share a common set of values. Fast& Up has a range of top quality nutrition products that will form an integral component in my training regime." After a record-breaking domestic season in 2017-18, which included over a 1,000 runs within a single month and consistent performances for both Karnataka and India A across formats, Mayank received his maiden call to the Indian Test team midway through the 2018-19 Border-Gavaskar Series in Australia.
Fast&Up announced as the Official Energy Drink Partner for Procam International Running Events in India
Fullife Healthcare | March 22, 2019
https://brandequity.economictimes.indiatimes.com/news/advertising/fastup-announced-as-the-official-energy-drink-partner-for-procam-international-running-events-in-india/68520433 The events include includes the Tata Consultancy Services World 10K, the Tata Steel Kolkata 25K, the Airtel Delhi Half Marathon and the Tata Mumbai Marathon Fast&Up, the flagship sports and active nutrition brand of Aeronutrix Sports Products Private Limited announc d their partnership with Procam International as the official energy drink partners to all their IAAF Labelled races that includes the Tata Consultancy Services World 10K, the Tata Steel Kolkata 25K, the Airtel Delhi Half Marathon and the Tata Mumbai Marathon. Fast&Up has inked this prestigious partnership for these proclaimed events within 3 years of its inception. As the energy drink partner to these runs, the brand has successfully placed its name amidst the top brands of India. This association will aid the brand to create awareness and cater to more than 1250,000 runners nationally. The brand will provide energy drink support with their flagship product Fast&Up Reload to the runners during their run that will provide them with energy and help enhance performance. The partnership is a step forward towards the brand’s aim to revolutionise the way sports nutrition is administered in India. As running continues to establish itself as the largest mass participation sport in India, Procam running events have played a pivotal role in this evolution. From starting a health & fitness revolution that spawned over 1200 races in the country, to creating a springboard for Indian long- and middle-distance runners; these events apart from being an important part of the global running calendar have also become a beacon of humanity and compassion. The events transcend sport to provide equal opportunity participation across a cross-section of society. Today, the Procam events are the single largest sporting platform for charity in India. Procam International has through the years, built phenomenal brand equity partnering with some of the most reputed brands across the world. Brands with a common vision of energizing the sports and fitness revolution the country is currently in the midst of. With this partnership with Fast&Up, Procam welcomes on board a partner who understands the depth of the sport and the need of an athlete – amateur and professional alike. Fast&Up is spearheading the sports nutrition revolution in India with its wide range of effervescent products, it is the only Indian nutrition brand to be certified with 'Informed-Choice' across its flagship products. Effervescent nutrition renders enhanced bioavailability that is an essential element aiding as a performance booster making it an intelligent and better format compared to traditional supplements. The professional running community in Bangalore were the forerunners in adopting this technology, Fast&Up had become their first choice for sports nutrition since it was launched. Vijayaraghavan Venugopal, CEO, Aeronutrix Sports Products Pvt. Ltd, said, “We are proud to be associated with Procam. It is a prestigious moment for our entire team to achieve this feat within 3 years of our launch. We are excited to fuel runners across the country in the next year and thank the running community for showing support to Fast&Up, making it a trusted brand for sports in India” Vivek Singh, Jd. MD, Procam International, said, “For us at Procam International, runners are our biggest stakeholders. We are constantly striving to ensure an enhanced running experience for our runners and we believe it is the same for Fast&Up. We are delighted to welcome Fast&Up as our energy drink partner and look forward to growing this partnership.”
Sixth Sense backs sports nutrition co
https://timesofindia.indiatimes.com/business/india-business/sixth-sense-backs-sports-nutrition-co/articleshow/64676052.cms Domestic consumer-centric venture fund Sixth Sense Ventures' Nikhil Vora has joined India's ace investor Rakesh Jhunjunwala as co-investor in former Lupin president Satish Khanna's Fullife Healthcare, a Mumbai-based nutrition company focused on the fast-growing preventive healthcare and active living segment. After the transaction, the three lead shareholders - the Khanna family, Jhunjunwala and Sixth Sense - will be promoters in the company. Sixth Sense will own a stake of around 10% in the company. Its first fund Sixth Sense India Opportunities - I has completed 10 investments, while it has closed two investments from the second fund so far. Sixth Sense Ventures has invested around $3 million in Fulllife.
Consumer focused VC fund Sixth Sense puts Rs. 15 crore in Fullife Healthcare
https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/consumer-focused-vc-fund-sixth-sense-puts-rs-15-crore-in-fullife-healthcare/articleshow/64676152.cms Marking its first investment in the nutrition and healthcare space, consumer focused venture capital fund, Sixth Sense Ventures has invested about $2 million (between Rs. 10-15 crore) in Fullife Healthcare which sells sports nutrition supplements. The investment will see Sixth Sense pick up a 10% stake in the 5-year-old company which also counts veteran market investor Rakesh Jhunjhunwala as its angel investor. Jhunjhunwala had invested about Rs. 25-30 crore in the firm about 3 years ago. Founded by Satish Khanna, the former group president of healthcare firm Lupin, Fullife Healthcare sells sports nutrition supplements with a focus on innovative delivery patented formats. The firm sells its products across 20 countries and has been scaling its growth in India in the emerging ‘active life’ segment under the brand ‘Fast & Up’. “Fullife is among the first players in the nascent category of sports nutrition i in India. While globally the market is about $45 billion, in India it is less than $400 million. The capability to be a first mover in such a market offers Fullife the opportunity to grow to an Rs. 500-700-crore business over the next 3 years,” said Nikhil Vora, CEO of Sixth Sense Ventures. Post this investment, the promoters along with Rakesh Jhunjhunwala and Sixth Sense Ventures will be the lead shareholders in the firm. Currently, non-Indian markets form the bulk of Fullife Healthcare’s revenues with products being marketed globally. However, the firm has also been building its distribution channels in India through nutrition shops and organised pharma chains to enable steady supply of its products here. This will aid the firm to reach its target revenue of Rs. 75-80 crore in FY19 having clocked about Rs. 50 crore in FY18. Currently, products under Fast & Up are being used by the Indian Cricket team even as the firm has begun approaching global soccer leagues for usage of its supplements.
Sixth Sense Ventures bets on Rakesh Jhunjhunwala-backed sports nutrition firm
https://www.vccircle.com/sixth-sense-ventures-bets-on-rakesh-jhunjhunwala-backed-sports-nutrition-firm/ Consumer-focused venture capital firm Sixth Sense Ventures has marked its foray into the healthcare sector by investing in Fullife Healthcare Pvt. Ltd, which sells sports nutrition supplements under the brand Fast & Up. According to a press statement, Sixth Sense has picked up 10% stake by investing around Rs 10-15 crore ($1.4-2 million) in the Mumbai-based firm. Fullife, which sells its products in 20 countries, also counts ace investor Rakesh Jhunjhunwala among its backers. Jhunjhunwala had invested an undisclosed amount in 2013 and holds 25% stake in the firm, according to VCCEdge, the research arm of News Corp VCCircle. “Fullife is amongst the first players in the nascent category of sports nutrition in India and we feel sports, health, active living will be the centre stage for future of healthcare,” said Nikhil Vora, founder and chief executive of Sixth Sense. Fullife was started in 2009 by Satish Khanna, the former group president of drugmaker Lupin. The company had posted net sales of Rs 18.2 crore in the financial year 2016-17, a tad higher than the Rs 17.6 crore it recorded the year before that, according to VCCEdge. Sixth Sense Ventures The investment in Fullife marks Sixth Sense’s third bet from its latest fund. The previous investments from Fund-II were in third-party logistics provider AVG Logistics and Eupheus Learning, which develops textbooks and their digitised versions to integrate class and home learning. Both deals were reported in March this year. The second fund has a target corpus of Rs 350 crore ($54 million) and was aiming to mark the first close by March this year. Sixth Sense’s first fund had a corpus of Rs 125 crore and backed 10 companies. These included gaming arcade operator Smaaash Entertainment Pvt. Ltd; Hindustan Foods Ltd, which makes PepsiCo Inc.’s Kurkure snack brand; oral care products company JHS Svendgaard Laboratories Pvt. Ltd, and hyperlocal logistics service provider Grab. Sports nutrition space There have not been many deals in the sports nutrition space in India of late. In January this year, Bengaluru-based sports nutrition brand DAAKI raised an undisclosed amount in angel funding from Rohan Agila, a business partner at Capvent Advisors. Genmedic Healthcare Pvt Ltd, which makes vegetarian nutritional supplements under the Super Gummy brand, had in January 2017 raised an undisclosed amount from Brand Capital, the ad-for-equity investment arm of media firm Bennett, Coleman and Company Ltd (BCCL). In February 2017, BM Vyas, the former managing director of India’s largest dairy company Amul, had launched a protein-based nutritional products company, Nutrisattva. A few established dairy firms have recently launched protein supplements, including whey, which is a high-margin business. While Amul markets its protein range under Amul PRO, and Parag Milk Foods sells its products under the Avvatar brand. According to a 2015 study by industry body Associated Chambers of Commerce and Industry of India (Assocham) and business consulting firm RNCOS, India’s dietary supplements market, which was worth about $2 billion at the time, was estimated to double by 2020.