Fullife Healthcare raises ₹300 Cr in Series D as Elev8 cuts first D2C cheque - CNBC TV18

Fullife Healthcare, the company behind nutrition brands Fast&Up and Chicnutrix, has previously raised $46.1 million over eight rounds, excluding the current deal, since it was founded in 2011.

Health and wellness company Fullife Healthcare has raised ₹300 crore in Series D funding led by Elev8 Venture Partners, the company said on Wednesday, March 26.

The company did not disclose its valuation or the stake acquired by Elev8 Venture Partners.

The deal marks the Bengaluru-based fund's first in the Direct-to-Consumer (D2C) space, where it sees a "structural shift," and the sixth deal from the current fund.

Fullife Healthcare, the company behind nutrition brands Fast&Up and Chicnutrix, plans to use the funding to accelerate growth by expanding into high-growth segments, including digestive health, sleep support, and protein-based nutrition.

The company claims to be profitable with its current focus on hydration, weight management, and beauty nutrition. It also aims to deepen presence in the US, UK, and the Gulf region as key targets among the 40 international markets it operates in, the company said in a release.

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Navin Honagudi, Managing Partner, Elev8 Venture Partners said, "Health and wellness are one such space where we are seeing a structural shift, with more consumers proactively managing their fitness, nutrition, and overall well-being through digital platforms."

He added that the investment is a reflection of the fund's conviction in the fast-growing categories.

Fullife Healthcare CEO Varun Khanna said, "This partnership will help us strengthen our brands, expand our product portfolio, and scale our manufacturing capabilities as we build a global FMHG company".

The company has previously raised $46.1 million over eight rounds, excluding the current deal, since it was founded in 2011. It last raised $22 million in a Series C funding round led by Morgan Stanley Private Equity Asia (MSPEA) in 2021.

Its over-a-decade-long journey was backed by marquee investors, including Rakesh Jhunjhunwala, Sixth Sense Ventures, Kotak Securities, and Akash Prakash, among others.

Fullife operates in a competitive nutrition and wellness market alongside players such as HealthKart, Oziva, and Wellbeing Nutrition.