SUMMARY
The funding round was led by RPSG Capital Ventures, with participation from Sharrp Ventures, Hyperscale Ventures, and the families of cofounders
Good Monk will use the funds to expand its product line and increase penetration in tier II & III markets
The D2C brand offers a range of dietary supplements focussed on gut health, immunity and weight loss, along with drink mixes and plant-based protein powders
D2C nutrition brand Good Monk
has raised ₹33 Cr (about $3.6 Mn) in its pre-Series A funding round at a valuation of ₹175 Cr (about $19.5 Mn). The round was led by RPSG Capital Ventures, with participation from Sharrp Ventures, Hyperscale Ventures, and the families of cofounders.
The D2C brand, which offers nutritional mixes that claim to offer preventive healthcare benefits, will use the funds toward research and development for new products and deepening distribution in tier II & III markets through increased brand awareness.
Good Monk was founded in 2022 by husband and wife duo Amarpreet Singh Anand and Sahiba Kaur. The Bengaluru-based brand claims to have seen 25X growth in the last 18 months.
Good Monk offers a range of dietary supplements focussed on gut health, immunity and weight loss, along with drink mixes and plant-based protein powders. It aims to become a daily part of home-cooked food by fortifying existing diets through its mixes that add a layer of nutrition without changing the taste of the dishes. It is now exploring new formats through which nutrition can be introduced to everyday diets.
“Preventive health is a growing category and as people become more aware of its importance, the higher the adoption of brands that are providing solutions for this. Good Monk is uniquely positioned to lead this shift by fortifying daily Indian meals without any additional steps or change in routines,” Kaur said.
The brand currently sells its products through its website and ecommerce platforms like Amazon and Flipkart, with plans to increase its digital footprint across other platforms.
Last year, Good Monk raised $2 Mn in its pre-Series A funding round led by RPSG Capital Ventures, along with participation from existing investors such as Multiply Ventures, Sharrp Ventures and ThinKuvate. Prior to that, it featured on Shark Tank India, where it secured ₹50 Lakh investment from Sugar Cosmetics founder Vineeta Gupta in return for 1% of equity.
The brand is operated by foodtech platform SuperFoods Valley, which also owns WhatsYourNiq, a personalised food recommendation app that provides nutritional information on packaged foods and tailored nutrition advice.
D2C brands selling supplements focussed on preventive nutrition are getting increasingly popular as consumers become more health conscious. As a result, investors are backing brands operating in the segment to capitalise on the opportunity. Recently, Supply6, which sells daily sachets for complete nutrition, raised $1.1 Mn (about ₹9 Cr) in its pre-seed funding round.
Like in the case of beauty and personal care, legacy FMCG players are taking note of changing consumer preferences in packaged food offerings, evidenced by Marico’s recent acquisition of plant-based protein brand Cosmix and healthy snacks startup True Elements.
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