DSG Consumer Partners leads pre-Series A funding in Power Gummies

File photo: DSG Consumer Partners founder Deepak Shahdadpuri speaks at DEALSTREETASIA'S Indonesia PE-VC Summit 2019.

Singapore-headquartered venture capital firm DSG Consumer Partners (DSGCP) has led a pre-Series A funding round in New Delhi-based Aesthetic Nutrition Pvt Ltd, which markets and sells chewable dietary supplements under the brand Power Gummies, per an announcement.

Founded in November 2018 by Divij Bajaj, Aesthetic Nutrition will use the proceeds to build its online presence and management team and to launch new products, it said in a statement.

DSGCP, which is investing from its third fund, will work closely with Bajaj and his new product development team to design, develop and launch a portfolio of chewable functional and nutritional supplements, it added.

The company plans to launch a portfolio of vitamin and nutritional supplements in gummy format, without the use of capsules and pills.

Its current brand, Power Gummies, uses vegetarian pectin as an alternative to traditional animal-derived gelatin that is prevalent in gummies worldwide. The products are vegetarian, non-GMO, gelatin-free, gluten-free and free of soy, nuts, dairy, meat and other allergens.

According to Deepak Shahdadpuri, Managing Director of DSGCP, the vitamin and health supplements market is ripe for disruption and presents a huge market opportunity in India. He believes that gummies will be amongst the fastest growing formats within the category.

“Within the first year of launch, the company has demonstrated strong product-market fit and achieved an annual revenue run rate of over Rs80 million,” he added.

The Indian market for nutraceutical supplements is estimated to be $5 billion and is expected to grow at 20 per cent CAGR from 2018-2023. Preference for healthier lifestyle, rising consumer health concerns regarding chronic diseases, and increasing awareness of nutrition deficiency in regular diets are driving the health supplement market in India.

DSG Consumer is an early-stage venture capital fund that makes investments in the consumer-product space mainly in Southeast Asia and India. The firm also invested in YOUvit, one of Indonesia’s fastest-growing vitamin supplement brands in 2018.

The VC firm closed its third venture capital fund at $65 million in August last year, exceeding an initial $50-million target. The firm has deployed almost the entire corpus of its $50-million second fund raised in 2017. DSG’s first fund had raised $12 million.

Since its inception in 2013, DSGCP has backed over 45 startups including OYO Rooms, Zipdial, Redmart, Veeba, Epigamia Greek Yogurt, Raw Pressery, among others. The firm currently manages $200 million of committed capital and has investment professionals and advisors in Mauritius, Singapore and Mumbai.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.