Fast&Up Initiates Major Funding Round for Expansion
Indian sports nutrition brand Fast&Up has officially begun the process to secure $50-70 million in fresh capital, according to sources familiar with the development. The company has appointed investment bank Avendus to manage the fundraising process, which will primarily consist of primary capital infusion.
This significant financial move comes at a time when India's health and wellness market is experiencing unprecedented growth, with increasing consumer interest in preventive healthcare and sports nutrition products.
Strategic Utilization of Funds
The substantial capital injection will be strategically deployed across multiple business verticals. Fast&Up plans to accelerate growth initiatives, introduce new product lines, and significantly expand its distribution network across India and international markets.
According to company co-founder Varun Khanna's recent statements to The Economic Times, the brand intends to expand its brownfield manufacturing unit in Maharashtra, invest in machinery upgrades, and potentially bring advanced European technology to India.
The funding will support Fast&Up's ambitious target of achieving ₹1,000 crore in revenue within the next five years, building on their current financial trajectory that saw parent company Fullife Healthcare report ₹188 crore in revenue for FY24, up from ₹171 crore the previous year.
Competitive Landscape and Market Position
Fast&Up operates in an increasingly competitive wellness space, competing with brands such as OZiva, Plix, Wellbeing Nutrition, Nutrabay, Kapiva and HyugaLife. The broader Indian health and wellness market reached an impressive $156 billion last year and is projected to grow to $256.9 billion over the next eight years, according to research firm IMARC.
The company's product portfolio spans multiple categories including:
- Weight management
- Plant protein and whey protein
- Hydration and energy products
- Sports nutrition
- Daily nutrition supplements
Founded in 2015 by Vijayaraghavan Venugopal and Varun Khanna, Fast&Up began with the mission to provide high-quality nutrition supplements and multivitamin drinks. The company operates under Fullife Healthcare Pvt. Ltd, which has European origins and manages the brand through Aeronutrix Sports Products Pvt Ltd.
Investor Backing and Previous Funding
Fast&Up boasts an impressive roster of investors, having previously secured funding from notable sources. The company raised $22 million in Series C funding from Morgan Stanley Private Equity Asia in early 2022, followed by an undisclosed investment from Bollywood actor Varun Dhawan later that same year.
Other significant backers include Rakesh Jhunjhunwala's Rare Enterprises, Kotak Securities, and Sixth Sense Ventures, demonstrating strong institutional confidence in the brand's growth potential.
The company's distribution strategy encompasses both online channels, including quick commerce platforms, and offline retail through third-party distributors such as Reliance, DMart, and various regional players.
Industry Trends Driving Growth
According to Snigdhaneel Satpathy, partner at Saraf and Partners, the nutrition and wellness sector continues to attract significant investor interest due to its unique position at the intersection of health, wellness, and technology.
"With rising consumer adoption and improving regulatory clarity, investor confidence is growing," Satpathy noted. "We expect this trend to contribute significantly to FDI inflows into India, as global nutrition and wellness brands look to tap into the Indian market."
The increasing demand for nutritional products is being driven by several factors:
- Rising health awareness across age groups
- Urban lifestyle changes
- Growing emphasis on preventive healthcare
- Digital platform influence and influencer-led trends
Emerging trends in the sector include personalized nutrition solutions, clean-label products, plant-based supplements, and functional foods, all areas where Fast&Up has established a strong presence with its portfolio of over 100 products available in more than 35 countries.
