Wellversed: A Wellness Startup Helping in Creating and Scaling Consumer Brands
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The demand for health and wellness products is steadily growing. Research shows that an average Indian millennial spends over 3000 per month on their fitness and wellness. Digitalization has been quite influential in generating awareness of the common public about human wellness. The growing wellness industry has attracted many brands to come up with good and genuine wellness products. Entrepreneurs and startups are focusing on developing authentic wellness products that could contribute to the spectrum of human wellness.
Wellversed is a startup that helps in building and scaling the business in the wellness industry. They help in accelerating the growth of wellness brands. Popular Indian cricketer Yuvraj Singh is associated with Wellversed in its startup journey.
Read further to know about Wellversed, its founders, products & services, business model, and more.
Wellversed - Company Highlights
| Startup Name | Wellversed |
|---|---|
| Headquarters | Gurgaon, Haryana |
| Industry | B2C and Wellness |
| Founder | Aanan Khurma, Aditya Seth, and Ripunjay Chachan |
| Founded | 2019 |
| Total Funding Raised | $3.2 Million |
| Website | wellversed.in |
Wellversed - About
Wellversed - Industry
Wellversed - Founders and Team
Wellversed - The Idea and Startup Story
Wellversed - Name, Tagline, and Logo
Wellversed - Products & Services
Wellversed - Business Model
Wellversed - Customer Acquisition
Wellversed - Challenges Faced
Wellversed - Funding
Wellversed - Competitors
Wellversed - Recognition and Achievements
Wellversed - Future Plans
Wellversed - About
Wellversed is a full-stack accelerator for wellness brands. Wellversed startup accelerate wellness brands from their infancy to building them into strong world-class brands that enable better wellbeing. They enable founders to build genuine wellness brands by accelerating sales growth, strengthening the product-market fit, improving the supply chain, providing investment support, building the brand story, and improving key metrics, and M&A opportunities.
Short term goal of the startup is to accelerate 1000 wellness brands by 2025, invest in 100 wellness brands by 2025, and acquire 10 wellness brands by 2025. It has a long-term vision to maximize human wellness by enabling genuine wellness brands.
Wellversed - Industry
The global wellness market is at more than $1.5 trillion per year, with annual growth of 5 to 10%. In fact, the rate of growth of the wellness industry is in double digits in the developing economy. 60% of this market is contributed by wellness brands while the remaining is contributed by services.
Wellversed - Founders and Team
Aanan was a fellow at the Stanford Biodesign School in 2012. As an alumnus of Stanford Biodesign, Aanan Khurma used to conduct a lot of Design Thinking workshops to disseminate the ideology of Stanford D-School to college students. It was during the organization of one such workshop that Aanan met Aditya Seth who was an industrial design student inclined toward designing manufacturing assembly lines. Both of them launched a brand together called Unsnack which was one of the early D2C brands in the Indian ecosystem. Both of them were later joined by Ripunjay Chachan who was Aanan’s batchmate at Stanford Biodesign. Yuvraj Singh was a consumer of the products crafted and traded by Wellversed before he decided to invest in Wellversed and later become a part of the core team of Wellversed.
Aanan is the CEO of the Company and is primarily responsible for Business Intelligence, Defining Long Term Goals, and probably one of the only CEOs who directly leads the Human Resources department. Aditya Seth leads the supply chain while Ripunjay Chachan leads Business Growth. Yuvraj Singh is the chief evangelist and flag bearer of the message of health and wellbeing.
As of June 2022, Wellversed has a total of 150 employees.
Wellversed - The Idea and Startup Story
The company started out as a personal quest to maximize healthspan. The human body is designed to live up to 120 years of age but most people become dysfunctional by 65-70 years of age. Aanan Khurma realized that people can live a disease-free life of quality, vigor, and intensity if their lifestyle is right. He realized that consumer brands are not optimizing for the long-term well-being of human beings. This led him to launch his first brand called Unsnack. Subsequently, he launched several brands like Ketofy, Ovego, and Wellcore to cater to different use-cases of wellness.
These brands were unified under the common umbrella of Wellversed Full-Stack Accelerator structure evolved to help great founders create genuine wellness brands.
Arbaz Sayed
Wellversed - Name, Tagline, and Logo
There is a very interesting story behind the name of the Company. Aanan’s first startup - Hansure - was funded by Microsoft Ventures. When he was going through the journey of formulating what is now Wellversed he was exchanging ideas with the Director of Microsoft Venture Fund. The Director asked Aanan to send a small note about his startup in order to make a connection with a probable seed investor. As an interim thought, Aanan penned down the name Wellversed in order for this connection to be made and the conversation to proceed further. The Company was never renamed although the name is difficult to pronounce and several stakeholders have pointed out that it’s an awkward name. Since Wellversed platform is not primarily consumer-facing, they never thought it would be relevant to rename the Company.
Wellversed - Products & Services
Wellversed is a tech-enabled full-stack accelerator for wellness brands. They assist founders in their journeys to build and scale genuine wellness brands. A great consumer brand is built through only THREE things:
- A solution that serves a need.
- A product that is great.
- A brand story to carry the message to the masses.
In a typical scenario, running a brand has so many operational components to it that a founder is not able to focus on the core aspects of creating a brand. Wellversed relieves founders from all the operational hassle of selling their products. This includes eCommerce Operations, Performance Marketing, Listing Operations, Warehousing & Logistics, etc. This allows founders to build genuine products to solve a real problem and craft a story that resonates. Wellversed is accelerating 40 wellness brands as of June 2022.
Wellversed - Business Model
The business model of Wellversed is centred on accelerating brands and charging them a percentage of their growth revenue. Their EBITA margins are close to 18-20%.
Wellversed - Customer Acquisition
They didn't have a website for 6 months after they started selling to end consumers. They primarily relied on third-party eCommerce channels like Amazon.
Their only hack was discipline and diligence. Most companies talk about consumer centricity but Aanan and Aditya actually spoke to most consumers to whom they sold. Back then, sellers could access the phone numbers of consumers who ordered via Amazon.
Wellversed - Challenges Faced
They took a very unique approach to create a group of brands that maximise human wellness. When they started, this concept and way of building multiple brands were not well understood. The toughest part was the impact that people’s limited understanding had on their own mindset.
Vidhi Punamiya
Wellversed - Funding
As of 2022, Wellversed has raised 3.2 Million USD through Jubilant Foodworks, Yuvraj Singh, other entities, and angels.
Wellversed - Competitors
Some top competitors of Wellversed are:
- Mensa Brands
- Global Bees
- Evenflow
- Powerhouse91
- Thrasio
- SellerX
- Perch
- Heydey
Wellversed - Recognition and Achievements
Their achievement is the culture of the Company. They believe that great things are achieved through distributed intelligence and the first step to that is creating trust on an individual level. Systems like beehives, ant colonies, and the human brain are regarded as some of the most complicated structures in the universe. The commonality between these biological systems is that they do not have a single intelligence centre. The fact is that the most cooperative, intelligent, and admirable biological systems in the universe have been created by distributed intelligence. This is noteworthy because an individual needs to operate by a minimal set of rules in a distributed intelligence system.
Wellversed - Future Plans
The Future of Wellversed is to evolve into a City of wellness entrepreneurs crafting brands for true maximisation of human wellness.
FAQs
When was Wellversed founded?
Wellversed was founded in 2019.
Who is the founder of Wellversed?
Aanan Khurma, Aditya Seth, and Ripunjay Chachan are the co-founders of Wellversed.
Who are the competitors of Wellversed?
Some top competitors of Wellversed are:
- Mensa Brands
- Global Bees
- Evenflow
- Powerhouse91
- Thrasio
- SellerX
- Perch
- Heydey
Has Wellversed raised funding?
Wellversed has raised funding of $3.2 Million.
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