2021-03-17

Matrix-backed OZiva raises $12M in Series B led by Eight Roads Ventures

 

Mumbai, 17th March 2021: OZiva, India's leading clean, plant-based nutrition brand announced that it has raised $12M in a Series B round led by new investor Eight Roads Ventures, with participation from F-Prime Capital and existing investor Matrix Partners India.

Founded in 2016 by Aarti Gill and Mihir Gadani, OZiva provides 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.

The brand 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 have attained market leadership in the respective category.

OZiva has taken it upon itself to create a more stringent and standardized set of guidelines for the clean label market in India. In February 2021, OZiva became 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.

“At OZiva, what drives us day in and day out is the quest to empower 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. 

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.

Ashish Venkataramani, Principal, Eight Roads Ventures India, added, “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.”

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 OZiva as a leading consumer health brand in India.

Sanjot Malhi, Director, Matrix India, commented, “We’re privileged to have been early partners with Aarti & 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!”
 
About OZiva: 
Establishing a distinct identity in the consumer health segment, OZiva is India’s leading clean, plant-based nutrition brand that offers certified clean, plant-based as well as other nutritional products along with a fully digitized ecosystem intended to enable 100mn+ people live a healthier, active and better life. OZiva has become the world’s first connected omnichannel nutrition brand where people can pick-up a product from anywhere and consult a human expert digitally. To know more about OZiva, visit: www.oziva.in
 
 About Eight Roads Ventures India:
Eight Roads Ventures invests in high-quality, high-growth companies in Asia, Europe, Israel and the US, with a focus on the healthcare, technology and consumer sectors. Eight Roads is committed to making the companies it invests into leaders in their industries through access to patient capital, a powerful network of resources, and a team of investment professionals with a proven track record of success. Eight Roads Ventures’ India healthcare portfolio includes Ashish Life Sciences, Caplin Steriles, Carestack, Cipla Health, Core Diagnostics, eKincare, Eywa Pharma, Immuneel Therapeutics, Laurus Labs, Medwell Ventures, Plasmagen Biosciences, OZiva, PharmEasy, Richcore Lifesciences, Specsmakers, Trivitron Healthcare and Ujjala Cygnus. eightroads.com @8roadsventures
 
About Matrix Partners India:
Matrix Partners India is an investment firm with approximately $1 billion under management. Founded in 2006, the firm invests in companies targeting the Indian consumer and enterprise market at the seed, early and early growth stages. Matrix India has invested in several market leading consumer-focused companies such as, W For Woman (ready to wear fashion label), Chumbak (design-led lifestyle brand), Country Delight (D2C dairy & fresh foods brand), Mosaic Wellness (lifestyle & wellness consumer brand), &Me (health tech platform for women), DaMENSCH (premium men’s apparel brand), The Whole Truth (clean label food brand), and Open Secret (health snack brand).
 
Other marquee investments include Ola (local transportation), Dailyhunt (mobile local language platform), Mswipe (mobile POS), Five Star Business Finance (SME lending), OfBusiness (credit led B2B marketplace), Razorpay (payments), Ola Electric (multimodal electric vehicle platform), Stanza Living (tech enabled student housing platform), OneCard (mobile-first credit card), and Cloudnine Hospitals (leading chain of maternity hospitals), among others. Matrix India has advisory offices in Bangalore, Delhi and Mumbai. Matrix Partners has a global network of funds investing in the US, China and India, with approximately $5 billion under management. Further information is available at www.matrixpartners.in. To know more about our investment philosophy & ideologies, check out the #MatrixMoments podcast series.