Fullife Healthcare Pvt. Ltd, which sells sports nutrition supplements under the brand Fast & Up, has raised about $6.6 million (Rs 50 crore) in a fresh funding round from a clutch of new and exiting investors, per an announcement.
Existing investors Rakesh Jhunjhunwala and consumer-focused venture capital firm Sixth Sense Ventures took part in the financing while Akash Prakash, founder of Singapore-based Amansa Capital, came on board as a new investor.
The startup will use the funding to expand its operations into new markets, including the USA and Europe, and in introducing new product lines, it said in a statement.
“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,” Fullife co-founder Varun Khanna said.
Founded in 2011, the Mumbai-based company launched Fast&Up in 2015 to offer nutritional supplements for athletes. Its portfolio includes around 20 products which target fitness, immunity and wellness, and are sold offline, as well as online. Fast&Up is currently in the process of adding a new range of plant-based protein and super greens products to its portfolio.
According to a report in The Economic Times, Fullife has garnered a total of Rs 100 crore in funding to date. It last raised $2 million from Sixth Sense Ventures in 2018.
“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, being run by a passionate young founding team,” Prakash said.