OZiva Raises $12 Mn In Series B Round Led By Eight Roads Ventures The funds will be used to build the team, enter new categories, product development, and leverage technology to establish the company as a leading consumer health brand in India
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Mumbai-based clean, plant-based nutrition brand Oziva on Wednesday announced that it has raised $12 million in a Series B funding round led by new investor Eight Roads Ventures, with participation from F-Prime Capital and existing investor Matrix Partners India.
The funds from this round will be used to build out the team, enter new product categories, build out its technology platform to provide more value-added services and establish the platform as a leading consumer health brand in India.
Founded in 2016 by Aarti Gill and Mihir Gadani, the company claims to provide clean, plant-based products to empower individuals to become healthier, fitter, and better in every way. The brand has a portfolio of products across categories such as women's health, skin, hair, men's health, and general wellness, developed using natural, plant-based ingredients. It combines modern science and technology with the goodness of ayurvedic herbs to enable holistic living.
"At OZiva, what drives us day in and day out is the quest to empower over 100 million lives to be healthier and better. As a company, we have just started and there is a lot more to accomplish in the years to come. Both Mihir and I are extremely thankful to our customers, team, and existing investors for believing in us. Today, we are excited to partner with Eight Roads Ventures in the journey ahead. We will continue to focus on growing our portfolio of clean, plant-based products, expanding into newer categories while also further investing in our technology and R&D efforts," said Aarti Gill, co-founder, OZiva.
The brand maintains that it has been the first to develop and commercialize natural, plant-based formulations backed by science in each of these categories, which are highly regarded by customers for their superior quality. Each of its key products has attained market leadership in the respective category.
"We have closely tracked the large yet under-penetrated consumer health category, looking for companies with the focus and capabilities to disrupt the sector. OZiva's product leadership and technology-first approach around content and community set it apart from others in the market. We're excited to partner with Aarti, Mihir, and the team to further build India's leading digital-first consumer health company," stated Ashish Venkataramani, principal, Eight Roads Ventures India.
In addition to products, OZiva also provides its customers with access to personalized diet and fitness consultations, nutritional and fitness content, and community-based events through its technology platform. This tech-enabled ecosystem is at the core of the company's vision to build a highly motivated health and fitness community, the company further shared.
"We're privileged to have been early partners with Aarti and Mihir on this spectacular growth journey. Their focus on building a product with the highest quality and cleanest ingredients has positioned OZiva as the category leader in the plant-based nutrition space in India. We welcome Eight Roads Ventures to the partnership and look forward to the next phase of growth," added Sanjot Malhi, director, Matrix India.
In February 2021, OZiva has been said to have become India's first certified clean nutrition brand by the US-based Clean Label Project for ensuring top purity standards across its product portfolio. The company received the Purity Award and Pesticide Free certification for maintaining the highest benchmarks in product formulation, product labeling, quality control and packaging.
