Mumbai-based pharmaceutical major USV has acquired a 79% controlling stake in D2C nutraceutical brand Wellbeing Nutrition for ₹1,583 crore ($174.7 million) in an all-cash deal. The transaction includes the exit of early investors Fireside Ventures and Hindustan Unilever, while founder Avnish Chhabria rolls over a portion of his stake until March 2028. The acquisition allows USV to extend its portfolio from prescription medicines into preventive wellness and lifestyle-focused nutrition, capitalising on the booming Indian nutraceutical and D2C health supplement market.
Glimpse:
USV has signed an agreement with Wellbeing Nutrition to acquire 79% stake in the D2C nutraceutical brand for ₹1,583 Cr ($174.7 Mn) in an all-cash deal
The majority stake purchase comprises about 35% ownership of Wellbeing Nutrition founder Avnish Chhabria and around 44% from its existing shareholders
USV will be adding Wellbeing Nutrition to its portfolio to extend its commitment from prescription-led care to preventive and lifestyle-focused wellness
Mumbai-based pharmaceutical company USV has signed an agreement with Wellbeing NutritionWellbeing Nutrition Datalabs_in-article-icon to acquire 79% stake in the D2C nutraceutical brand for ₹1,583 Cr ($174.7 Mn) in an all-cash deal.
The majority stake purchase comprises about 35% ownership of Wellbeing Nutrition founder Avnish Chhabria and around 44% from its existing shareholders, where early backers Fireside Ventures and Hindustan Unilever will exit the startup by selling their stake.
Chhabria, who held about 50% prior to the transaction, will “rollover” to retain stake until March 2028. Besides, the current management will continue to operate the business under the oversight of USV’s board.
Founded in 2019 by Chhabria and Saurabh Kapoor, Wellbeing Nutrition sells vitamins and mineral supplements via its website and retail outlets. Wellbeing Nutrition has raised a total funding of over $12 Mn till date.
It last raised $10 Mn (INR 85 Cr) in Series B funding round, led by Hindustan Unilever Limited (HUL) and Fireside Ventures. It also counts celebrities like actress Rakul Preet and Mira Kapoor among its backers.
The startup competes with legacy players like Oziva, Gynoveda, Amway, Cureveda and Auric, as well as D2C nutrition startups such as Power Gummies and Fast&Up.
On the financial front, the startup claims to be on track to close FY26 with a net revenue of over ₹260 Cr. Earlier in March 2025, Chhabria told Inc42 that the startup is on track to close FY25 with a revenue of ₹140 Cr.
Post the acquisition, USV will be adding Wellbeing Nutrition to its portfolio to extend its commitment from prescription-led care to preventive and lifestyle-focused wellness.
Founded in 1961, USV is focused on the development of small-molecule active pharmaceutical ingredients along with custom research services for drug development. It is the producer and retailer for medicines like Ecosprin, Tazloc, OnArmi, among others.
“This acquisition dovetails strongly with our strategy to build a future-facing healthcare portfolio that responds to the changing aspirations of Indian consumers. Their success across channels, particularly through their own platform, and their premium, clinically backed portfolio positions us well to accelerate growth while maintaining high standards of quality, compliance, and ethics that USV has been known for,” USV’s managing director Prashant Tewari said.
“This acquisition positions us well to accelerate growth in preventive wellness while maintaining the high standards of quality, compliance, and ethics that USV has always stood for.”
By
HB Team
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