Indian consumers between the ages of 25 and 45 understand the importance of preventive health care. They actively seek supplements to support their on-the-go lifestyle rather than popping a vitamin pill every day.
“I’ve always had trouble gaining weight and I used to weight train for three to four hours a week. I used to be regular with my protein shakes, but I found it tedious to scoop out a scoop and drink it regularly, and the taste was unappetizing,” says Urvi Raghbeer, founder and CEO of Welly. His story.
health based in New Delhi and start up wellness Welly aims to achieve this by providing “a dose of happiness” to its customers.
“We launched Welly with the mission of bringing happiness and health. We create effective, science-backed products that are tasty, fun to consume, and easily fit into our daily lifestyles. We target everyday lifestyle issues, including sleep, beauty and immunity, with our products.” Urvi says.
Founded in february 2021 by Urvi, Wellie offers three products, suitable for adults and backed by science, vitamin gummies for restful sleep, increased immunity and healthy hair, skin and nails.
“We work with food and formulary technologists to create proprietary formulations. Our products have gone through multiple rounds of testing. All formulations are clean and for the conscientious consumer. Our products are 100% vegan and gluten-free, with no artificial colors, flavors, added sugar, preservatives or gelatin,” explains Urvi.
With a special focus on sustainability, Welly ensures that its products and packaging are 100 percent carbon neutral.
The direct-to-consumer (D2C) brand sells its products through its website and various marketplaces, including Amazon, Flipkart, Nykaa, Pharmeasy, Purple, Woovly, etc. The startup uses logistics aggregators to deliver its orders across India.
USP
“Welly’s USP lies in the positioning of its brand and products. It’s a wellness brand with a fun twist, hence the name Welly. With an increased focus on the sleep and stress category, we see ourselves forming a strong subcategory,” explains Urvi.
While there are several players in the gummies space, including New Delhi-based Power Gummies, Welly aims to expand its product offering beyond gummies to other formats within the broad nutraceutical market category.
“Welly’s playful packaging design and brand positioning set the brand apart from other players in the space. His delicious gummies, packaged in fun and collectible tins, are a hit with consumers,” Urvi says.
Trip
A graduate of Parsons School of Design, New YorkUrvi has his take on brand building, through his experience in design and technology.
He also completed his Executive Education program at Harvard Business Schooland believes that design and business go hand in hand in today’s world.
Currently, Welly has a team of 10 people, divided between the marketing, product and operations departments.
Speaking of the challenges you faced on your entrepreneurial journey, Urvi says, “The main challenge was educating customers about a new category of products in the vitamin space. Customers were skeptical if they would get the health benefits of additional gummies pills.”
She continues: “With investment in marketing and customer education and the category experiencing significant growth and traction, consumers are now looking for alternative product formats to pills or syrups.”
Financing and monetization
In March 2022, Welly raised $400,000 in a seed round led by anthill companies and saw the involvement of the angel investor Roshan Abbas and Tollywood actor Allu Sneha Reddy.
The startup will use the capital to expand its product portfolio, grow its customer base, and grow its team, among others.
“We are excited to be the only gummy brand to receive institutional funding within six months of our launch. I am proud of what we have accomplished in such a short time, with a small team and only three products,” she shares.
Starting with an initial investment of Rs 25 lakh, the startup generated an annual run rate (ARR) of Rs 2 crore in FY22.
the way to follow
According to Research and Marketsthe Indian market for dietary supplements, valued at $3,924.44 million in FY20: Expected to grow at a CAGR of 16 percent for fiscal year 27.
In fact, the category of vitamins and minerals represents 40 percent of the market, at a $1.57 billion Market size.
Welly claims to have delivered more than 27,000 orders to finish 450 Indian cities. Aimed at people who are always on the go but want to maintain a healthy and balanced life, their highest orders come from metropolitan cities, including Delhi, Mumbai, Bangalore, and Hyderabad.
“We plan to multiply by 6 in the next fiscal year by increasing our team, expanding our product line and investing in marketing and distribution. It is a growing space and we hope to become a great player in the category”, says Urvi.
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