Youvit, the Indonesian vitamin brand created with health-conscious millennials in mind, landed $6 million in a Series B funding round led by Unilever Ventures, the venture capital and private equity arm of Unilever.
WHO: Founded in 2016, Youvit was launched out of a passion for building consumer health ventures that serve consumers across emerging Asia. The founders spent 18 months working with US-based product experts and labs to formulate a delicious-tasting functional vitamin supplement in gummy format, specifically tailored towards the dietary requirements and habits of the Southeast Asian consumer. The brand launched its first vitamin products in 2017 under the Youvit brand and its products are currently available at over 20,000 points of sale, through the brand’s official online stores on all major e-commerce platforms as well as its own DTC platform.
WHY: With the fresh funding, Youvit plans to expand its product offering and launch new formats, while investing in team expansion. The company also plans to double-down on its unique omnichannel distribution model. The expansion plan includes launching the full product range in Malaysia and ramping up across Southeast Asia.
IN THEIR OWN WORDS: "Customers deserve a better experience. We aim to improve the health and well-being of hundreds of millions of customers and as a result grow into the number one vitamin brand for urban millennials in Southeast Asia," says Wouter van der Kolk, co-founder and CEO at Youvit.
"Youvit marks our first investment in the vibrant start-up ecosystem of Southeast Asia, a market which offers us immense opportunities to partner with visionary founders," said Pawan Chaturvedi, partner at Unilever Ventures.
Chaturvedi added, "With its innovative product formats and approach to distribution, Youvit is poised to disrupt the large vitamins and supplements market in Southeast Asia. We look forward to partnering with Youvit as they build out the wellness category in this exciting market."
“This is our first direct investment in a Southeast Asian start-up. The start-up is gaining traction among children and adults. With a presence in Indonesia and Malaysia, it plans to expand across Southeast Asia. This is our ninth investment from the fund, the earlier ones being MyGlamm, Ustraa, Power Gummies, Souflower, TAC, LetsShave, Onelife Nutriscience, and DSG Consumer Fund IV. We continue to look at innovative companies in the consumer space in India and Southeast Asia," said Sumit Keshan, Managing Partner, Wipro Consumer Care Ventures.
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