Nutraceutical Startup Laurik Raises INR37 Million
Funds will be utilized to market its products and launch new product categories in the coming months
Laurik, on Tuesday announced to have raised a funding amount of INR37 million in its ideation stage. The funding round was led by marquee investors like Murthy Aradhi, co-founder at FastCollab and Lakshmikant PB, director of finance, Antler. Funds will be utilized to market its products and launch new product categories in the coming months.
"The goal of Laurik is to work towards empowering people to invest in a healthy lifestyle by providing them with a comprehensive blend of ingredients with well-researched benefits. Being recognized by the Clean Label Project™ as one of few companies in the world for creating clean products, validates our mission to unlock the power of nature with exceptional innovation to make products that are healthier, and safer for daily consumption," said Lavanya Sunkari, founder and CEO, Laurik.
The Indian market for plant-based nutraceuticals is witnessing robust growth following the outbreak of the COVID-19. Indian nutraceuticals market is expected to grow at a compounded annual growth rate of 15 per cent in the forecast period of 2022-2027, according to a statement given by the company.
Founded in 2020 by Lavanya Sunkari and supported by Archana Chindam, Laurik is a D2C nutraceutical startup that produces the World's first Lauric enhanced coconut shots. It improves long-term health and well-being of the people. Laurik provides a range of health shots that caters to haircare and skincare, which naturally improves the skin, hair, and overall health. The Laurik shots, namely hair shots, skin shots, collagen booster shots and anti-ageing shots come in pocket-friendly sachets and are easy to consume. The startup aims to capture this growing market and use these funds primarily to strengthen research and development, expand the team size and scale its go-to-market operations.