Onelife Nutriscience raises capital from Wipro Consumer Care Ventures
Category: #headlines  By Pranali Mehta  Date: 2021-02-16
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Onelife Nutriscience raises capital from Wipro Consumer Care Ventures

Legacy consumer companies have been showing a growing interest in healthcare brands since the COVID-19 outbreak in 2020. One such company, Wipro Consumer Care and Lighting has announced that its venture capital arm, Wipro Consumer Care Ventures, has made significant investments in Onelife Nutriscience, a Mumbai-based consumer healthcare company.

Sources with knowledge of the matter stated that the investment size is around USD 6 million. However, additional financial details of the transaction were not disclosed.

Onelife Nutriscience will use the fresh investments to expand its presence in the nutrition & wellness vertical. The company stated that working closely with Wipro will allow the group to emerge as a formidable player in this business sphere.

Managing Partner at Wipro Consumer Care Venture Sumit Keshan was reported saying that the nutraceuticals industry has been witnessing rapid expansion in the recent past. He added that the company will focus on developing innovative products to mark its presence in India as well as across the globe.

For those unaware, Onelife specializes in offering products in the immunity, wellness, and overall nutraceutical sector, including vitamins and health supplements. The company is known to have an advanced R&D team with robust product knowledge.

Meanwhile, Wipro Consumer Care Venture was founded in 2019 with an initial investment of around USD 27 million. The company focuses on hygiene, immunity-building, and grooming products. This venture capital arm of Wipro Consumer Care and Lighting has also made substantial investments in other healthcare brands such as Ustraa and LetShave.

According to seasoned analysts, the recent development marks the growing interest of prominent consumer companies beyond traditional businesses. These legacy companies are lately focusing on participating in the evolving consumer trends, following the widespread adoption of healthcare products amidst the COVID-19 pandemic.

Source Credits –

https://www.moneycontrol.com/news/business/insider-trading-sat-stays-sebis-order-barring-future-groups-kishore-biyani-from-markets-6518461.html

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About Author

Pranali Mehta

Pranali Mehta    

Pranali Mehta boasts of over three years of experience as a content writer. Having completed her graduation in chemical engineering, she worked as safety & environment associate in a chemical company for a year. Harnessing her passion for writing however, Pranali deci...

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