The women's wellness brand Nua has successfully closed a $50 million funding round in Series C. The round was led by Peak XV and Filter Capital, with participation from existing investors Mirabilis Investment Trust and Footpath Ventures.
It is reported that this financing includes both primary fundraising and secondary offerings, allowing Kae Capital, Lightbox VC, and private angel investors to partially exit their investments.
Nua plans to use the raised capital to move to the next stage of company development. Key areas of focus include strengthening the brand, expanding distribution and market reach, and enhancing research and development activities.
Nua, based in Mumbai, was founded in 2017. It serves over three million women and girls monthly, offering products in categories such as irritation-free period care, maternal care, and daily intimate care.
Founder and CEO of Nua, Ravi Ramachandran, noted that since its inception, the company has aimed to meet unmet needs in women's health by creating woman-centric products and a brand that genuinely resonates with modern youth.
He added that the raised funds will help increase Nua's annual revenue growth from 100 crore rupees to 500 crore rupees within two years while maintaining profitability. Ramachandran emphasized that the company will continue to consider changing women's needs and develop products that bring significant benefit to their daily lives.
Nua recently launched digital services, including the Nua Period Tracker app and the SecretKeeper chat, to engage with consumers beyond its core product range.
Saksi Chopra, Managing Director of Peak XV, stated that the women's health market in India represents a large and growing opportunity, and Nua has demonstrated a strong ability to build a brand that deeply resonates with consumers. She also noted that the company has become the fastest-growing brand in this category and ranks second among online players, showing its competitiveness alongside much larger players.
Sumit Sinha, Co-founder and Managing Partner of Filter Capital, opined that Nua is transforming the concepts of feminine hygiene and wellness through its superior product offering and a brand that has established a remarkable connection with consumers.