Indonesia-based vitamin brand Youvit has raised $6 million in a growth funding round led by Unilever Ventures, the venture capital and private equity arm of Unilever.
The Series B funding round – which was also joined by existing backer DSG Consumer Partners and several other new investors – will support Youvit’s expansion plans, which include growing its product offering and team.
The company also plans to increase its omnichannel distribution and launch its full product range in Malaysia, as well as increase availability across Southeast Asia.
Youvit co-founder and CEO, Wouter van der Kolk, said: “We aim to improve the health and wellbeing of hundreds of millions of customers and as a result grow into the number one vitamin brand for urban millennials in Southeast Asia.”
The products are tailored to local markets, for example through vitamin dosages based on countries’ recommended intakes, the inclusion of native ingredients like curcuma, and halal certification in Indonesia and Malaysia. The vitamins are formulated with health-conscious millennials in mind and feature nutrients to support immune function, brain development, energy, and the overall health of adults and children.
“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.”
© FoodBev Media Ltd 2022
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