Wipro Consumer Care Ventures, the venture funding arm of Wipro Consumer Care and Lighting on Wednesday announced its investment in Youvit, an Indonesia-based start-up that offers nutraceutical and wellness products in gummies form for children and adults.
“This is our first direct investment in a Southeast Asian start-up. The start-up is gaining traction among children and adults. With a presence in Indonesia and Malaysia, it plans to expand across Southeast Asia. This is our ninth investment from the fund, the earlier ones being MyGlamm, Ustraa, Power Gummies, Souflower, TAC, LetsShave, Onelife Nutriscience, and DSG Consumer Fund IV. We continue to look at innovative companies in the consumer space in India and Southeast Asia,” said Sumit Keshan, managing partner, Wipro Consumer Care-Ventures.”
The amount of the investment has not been made public.
Youvit said that it plans to double down on its omnichannel distribution model, with traction generated through its online channels and direct-to-customer platform. It also has a presence in more than 20,000 modern retail stores.
"Building on the strong fundamentals of our initial years of operations, we aim to become the number one vitamin brand for urban millennials across the region. With the fresh funding, we plan to expand our product offerings and launch products in new formats while investing in the brand and expanding the team," said Wouter, co-founder and CEO of Youvit.