~ The investment will be instrumental in accelerating the growth of flagship brands Fast&Up and Chicnutrix ~
MUMBAI, India, Dec. 15, 2021 /PRNewswire/ — Fullife Healthcare raised its Series C funding of over 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.
Nutraceuticals market in India is expected to grow at CAGR of 35% to reach $18 Bn by 2026, according to a report by ASSOCHAM. The industry has been growing at a rapid pace amid the pandemic globally wherein the market opportunity in India is projected to have an addressable base of 120 million health-conscious individuals by next year.
This round of funding will support Fast&Up and Chicnutrix to expand their domestic presence, enhance manufacturing capabilities and accelerate momentum globally.
Commenting on the occasion, 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. 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.’
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."
Fullife Healthcare is a new-age business that boasts of a strong and young team which that the trust of stalwart investors such as Rakesh Jhunjhunwala, Sixth Sense Ventures, Kotak Securities and Akash Prakash along with MSPEA now.