Nveda: Revolutionizing Healthcare with Nutraceutical Solutions
📄Company Profiles
India's Nutritional Supplements Market was valued at U$ 11.85 billion in 2023 and is projected to hit the market valuation of US$ 28.70 billion by 2032 at a CAGR of 10.7% during the forecast period 2024–2032.
Nveda is a fast-growing brand engaged in bringing high quality Nutritional and health supplements using natural ingredients and herbs to treat & prevent various lifestyle diseases.
In this article, learn more about the Nveda Founder, Products, Challenges, Competitors, Mission and Vision, Business and Revenue Model, among other details.
| STARTUP NAME | Nveda |
|---|---|
| Headquarters | Bangalore, Karnataka, India |
| Sector | Nutraceutical & Ayurvedic Supplements |
| Founder | Sanjay Mitra |
| Founded | 2018 |
| Website | nveda.in |
Nveda - About
Nveda - Industry
Nveda - Founders and Team
Nveda - Startup Story
Nveda - Vision and Mission
Nveda - Name and Logo
Nveda - Product/Services
Nveda - Business and Revenue Model
Nveda - Launching Company Strategies
Nveda - Advisors and Mentors
Nveda - Customer Growth and Retention Strategies
Nveda - Challenges Faced
Nveda - Growth
Nveda - Marketing Strategy
Nveda - Funding
Nveda - Competitors
Nveda - Future Plans
Nveda - About
Their Company Bellavita Healthcare Pvt Ltd was launched in Dec 2009. Sanjay was working as a consultant to various importing companies for their import of pharmaceutical & Nutraceutical products from India. Brand Nveda was launched in April 2018. Since then Sanjay has been working exclusively on the development of this brand.
Nveda - Industry
The total market size is $10 Billion. Industry is growing at a CAGR of 15%. They are looking at Brand Nveda amongst the top 5 in a few of the Nutraceutical categories like Arthritis, BP & Diabetics.
Nveda - Founders and Team
Sanjay Mitra, a single promoter with education from IIT BHU and IIFT, boasts over 30 years of experience. His past roles include serving as the Country Manager for Dabur International in CIS Countries and working as a Pharmaceutical Consultant from 2009 to 2017. He began working on the products in 2016 and successfully launched the brand Nveda in April 2018.
Nveda - Startup Story
During one of his routine Annual Checkup, Sanjay was diagnosed with High Cholesterol. He was prescribed Statins, and after a month He became Diabetic. Then Sanjay was asked to go for Diabetic medicine. He stopped the Cholesterol medicine and his blood sugar became normal. This was the starting point for working on this project of Alternate Therapy.
Having worked in the Pharmaceutical and Nutraceutical industry, He had good access to data for progress in different ingredients for some critical diseases like Arthritis. After launching products for Arthritis, BP & Diabetics, through customer feedback They realized there was gross overselling of many pharmaceutical products and services primarily for commercial consideration. This made them to launch new products so that for the initial stage of most diseases one can manage through these supplements.
Nveda - Vision and Mission
There is a limitation and lack of effective results with regular medicines for some of the very common diseases. They are bridging this with their range of Nutraceutical & Ayurvedic supplements.
Muskaan Kapoor
Nveda - Name and Logo
As They are working on Natural & Ayurvedic Supplements, N comes from Natural and Veda from Ayurveda.
Nveda - Product/Services
They have worked on their supply chain to get the best possible prices. The main raw material is Imported by them directly to ensure quality. Formulations have been developed to ensure maximum benefits for particular diseases.
Nveda - Business and Revenue Model
They are targeting the D2C market i.e. direct to consumer through online direct & marketplaces.
Nveda - Launching Company Strategies
They first launched Nveda Joint Support and Nveda Omega 3 Fish Oil, there were many people in their circle who were suffering from Arthritis. So getting the first 100 customers was primarily through word of mouth. The challenge was to maintain the supply chain and ensure the quality of Nutraceutical products. Initially, they used ads in Marketplaces.
Nveda - Advisors and Mentors
A Friend Gunjan Kumar is advising and helping them in importing and sourcing products. He is a Graduate from JSS College of Pharmacy and has more than 20 years of experience in sales and manufacturing of Pharmaceutical products, having worked with companies like Sanofi, GSK & IPCA.
Nveda - Customer Growth and Retention Strategies
In March 2023, the company surpassed monthly sales of Rs. 1 crore. By April 2023, Nveda Calcium Complex emerged as a bestseller on Flipkart, followed by Nveda Joint Support achieving the top position in its category on Amazon in June 2023.
September 2023 marked the commencement of 3PL operations with Emiza for warehouses located in Gurgaon, Bhiwandi, and Kolkata. Subsequently, by October 2023, Nveda Calcium also attained the number one position in its category on Amazon.
Additionally, the company allocates 30% of its budget to performance marketing channels such as AdWords, Facebook, Taboola, Criteo, PR campaigns, and influencer marketing.
Nveda - Challenges Faced
The most challenging part for them was during the Covid period in 2020 and 21 when their supply chain was completely disturbed. They supplied to customers who were regularly using their product and stopped completely acquiring new customers during this period.
Nveda - Growth
2 of their products are bestsellers on Amazon and one in Flipkart in their respective category.
Nveda - Marketing Strategy
They rely on a full stack of marketing plans with adword, Facebook, Taboola, Criteo, PR & Influencer marketing.
Nveda - Funding
No funding has been raised; Nveda is a 100% bootstrapped company.
Nveda - Competitors
Some of their Top competitors are:
- Healthkart
- Wow
- Neuherbs
- Herboveda
- Carbamide Forte
Nveda - Future Plans
They have launched 6 new Ayurvedic products for PCOD care, Thyroid Functions, Male & Female fertility in the past 3 months.
Kinnary Nensee
FAQs
What is Nveda?
Nveda is a healthcare startup offering nutraceutical supplements for various health conditions.
Who is the founder of Nveda?
Sanjay Mitra is the founder of Nveda.
Has Nveda received any funding?
No, Nveda is a 100% bootstrapped company and has not received any external funding.
Who are Nveda's competitors?
Some of Nveda's top competitors include Healthkart, Wow, Neuherbs, Herboveda, and Carbamide Forte.
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