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 taking a vitamin pill every day.
“I have always struggled to gain weight and I was training with weights for three or four hours a week. I was regular with my protein shakes, but found it boring to take a measuring cup and have it regularly, and the taste was not palatable, “says Urvi Raghbeer, founder and CEO of Welly His own story.
Health based in New Delhi And start of well-being Good aims to achieve this by bringing “a dose of happiness” to its customers.
“We launched Welly with a mission to bring happiness and health. We create science-backed effective products that are tasty, fun to consume and easily fit into our daily lifestyle. With our products we address the problems of daily lifestyle, including sleep, beauty and immunity, ” Urvi says.
Founded in February 2021 Of Urvi, Welly offers three products – suitable for adults and backed by science – vitamin gummy candies for restful sleep, immunity boosting and healthy hair, skin and nails.
“We work with food technologists and formulas to create proprietary formulations. Our products have undergone multiple test cycles. All formulations are clean and for the conscious consumer. Our products are 100% vegan and gluten-free, without artificial colors, flavors, added sugars, preservatives and gelatine, “explains Urvi.
With a focus on sustainability, Welly ensures that its products and packaging are 100 percent zero carbon emissions.
The direct-to-consumer (D2C) brand sells its products through its website and various markets, including Amazon, Flipkart, Nykaa, Pharmeasy, Purplle, Woovly, etc. The startup uses logistics aggregators to deliver its orders across India.
“Welly’s USP lies in brand positioning and products. It is a wellness brand with a fun twist, hence the name Welly. With more focus on the category of sleep and stress, we see ourselves forming a strong subcategory, ”explains Urvi.
Although there are various players in the gummy candy space, including New Delhi-based Power Gummies, Welly aims to expand its product offering beyond gummy candies to other formats within the broad category of the nutraceutical market.
“Welly’s package design and playful brand positioning set the brand apart from other players in the space. Its delicious gummy candies, packed in fun and collectible boxes, are a hit with consumers. ” Urvi says.
A graduate of the Parsons School of Design, New YorkUrvi has his own opinion on creating brands, thanks to his expertise in design and technology.
He also completed his executive training program at Harvard Business Schooland believes that design and business go hand in hand in today’s world.
At present, Welly has a team of 10, divided between marketing, product and operations departments.
Speaking of the challenges he faced in his entrepreneurial journey, Urvi says, “The main challenge has been to educate customers on a new product category in the vitamin space. Customers were skeptical as to whether they would get the health benefits of additional pills from gummy candies. ”
He continues: “With investments in marketing and customer education and the category seeing 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 semi tour led by adventures of the anthill and saw the participation of the angel investor Roshan Abbas And Tollywood actor Allu Sneha Reddy.
The startup will use the capital to expand its product portfolio, increase its customer base, and grow its team, among others.
“We are thrilled to be the only gummy brand to receive institutional funding within six months of our launch. I am proud of what we have achieved 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 execution rate (ARR) of Rs 2 crore in FY22.
The way to go
Second Research and Marketsthe Indian food supplement market – worth $ 3,924.44 million in fiscal 2020 – is expected to grow at a CAGR of 16 percent by FY27.
In fact, the vitamin and mineral category makes up 40 percent of the market, a 1.57 billion dollars market size.
Welly claims to have delivered more than 27,000 orders to over 450 Indian cities. Targeting people who are always on the go but want to maintain a healthy and balanced life, the highest orders of him come from metropolitan cities, including Delhi, Mumbai, Bangalore, And Hyderabad.
“We plan to grow 6x in the next financial year by growing our team, expanding our product line and investing in marketing and distribution. It is a growing space and we are confident of becoming a great player in the category, “says Urvi.