Matrix backed OZiva raises strategic investment from Hindustan Unilever Limited

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Mumbai, 9th December 2022: Hindustan Unilever Limited, India's largest FMCG company, announced that it has entered into a definitive agreement to acquire 51% equity stake in OZiva through a combination of primary infusion and secondary buyouts. Additionally, HUL will acquire the remaining 49% stake at the end of 36 months based on a pre-agreed valuation criterion. The current OZiva team led by Ms. Aarti Gill and Mr. Mihir Gadani will continue to operate all functions of the business and HUL will have representation on the Board. With this acquisition, HUL has forayed into the fast growing '˜Health & Wellbeing' category.

Commenting on the deal, CEO and Founder of OZiva, Aarti Gill said, "We are glad to partner with HUL to achieve our vision of empowering people to live better & healthier with OZiva. Over the last few years, we have created an innovative portfolio that has helped millions of consumers live a better life. As a next step in this journey, with OZiva's focus on innovation in the space of health & wellbeing and HUL's strong capabilities in reach & distribution and brand building, we believe together we can create a stronger purpose led brand that brings us closer to our vision & touch more lives around the world.'

"We are privileged to be early backers of Oziva and to have seen Aarti, Mihir and the team grow this consumer brand through true product innovation. We wish them Godspeed for the next leg of their journey and thank them both for delivering this exit for us!" commented Rajinder Balaraman, Managing Director, Matrix India.

About OZiva:
Founded in 2016, OZiva is a plant-based and clean-label consumer wellness brand focused on the need spaces such as Lifestyle Protein, Hair & Beauty Supplements and Women's health. It is a digital first brand with an omni-channel approach, available on its D2C website, digital marketplaces and a growing offline presence. The company has a strong in-house R&D team comprising of PhDs, Phyto-chemists and Biotechnologists.

About Matrix Partners India:
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 and consumer companies such as, Ola (mobility), Razorpay (payments and SME Neobank), OfBusiness (B2B Commerce), Dailyhunt (mobile local language platform), OneCard (mobile-first credit card), Ola Electric (electric vehicles), DealShare (social commerce platform), Country Delight (D2C dairy & fresh foods brand), Stanza Living (tech enabled student housing platform), GoKwik (e-commerce enablement platform), Mosaic Wellness (health and wellness platform), W For Woman (ready to wear fashion label), The Whole Truth (clean label food brand), Zupee (leading skill-based gaming app) and Park+ (super app for car users). Other marquee investments include MoEngage (SaaS), Jupiter (consumer neobank), Captain Fresh (seafood marketplace), Oxyzo (a tech-enabled smart financing solution provider), LiquiLoans (P2P lending) 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 To know more about our investment philosophy, check out the #MatrixMoments podcast series.