Health & Wellness Startup, Poshtick, Raises $450K Two Noida Based HNIs
Noida-based Poshtick is a health & wellness startup found in 2016 by Pranav Sharma and Kritik Thakur. What Poshtick does is provides customers a combination of functional, nutritional and value-added food products that provide end-to-end health solutions. Inc42 reports that the startup has now raised $450K funding from two HNIs (high net worth individuals) – Bhavya Sharma and Amit Nagar.
Poshtick intends to be a one-stop shop for all ‘health and wellness’ needs. Our aim is to create pocket-friendly healthy snack options and make them accessible and available for the masses. Also, we are giving a lot of emphasis on consumer education and want to create a community of educated consumers,” said Pranav Sharma, Founder & CEO, Poshtick.
This new funding will go into product development, developing human resource capabilities and making an effective supply chain mechanism. The purpose of Poshtick is to build an end-to-end solution for people who lead busy lives and don’t have the time to work out in gyms or indulge in sports activities to stay fit. Their product was the “The Finge Box”, which was a combination of fitness and binge making it a calorie- and portion-defined, mid-meal snacking solution.
The app is on its way and currently in the development stage, with a launch for early next year. Currently, the company is working on building an online presence, but they’re also looking to establish retail presence in the metro cities – Delhi-NCR, Bengaluru, Mumbai, Chennai, Hyderabad and Kolkata.
It was recently reported that the health and wellness market was doing much better this year than it had been in the past. With people all over the country taking better care of themselves and eating healthier, this is definitely a market that is going to grow. Being healthy is definitely about more than just working out and exercising regularly, which is why there is a demand for more health & wellness brands in the country today.
In a earlier report by ET, Devendra Chawla, president FMCG and brands at Future Group said, “The packaged food market in India is relatively nascent and per capita consumption even for aerated drinks or chocolates is minuscule compared to developed world that has been consuming branded food products since over many decades now.”