Indian gummy supplements supplier gets new US$1.5m investment

By Millette Burgos contact

- Last updated on GMT

Genmedic makes gummy-shaped supplements for the Indian market
Genmedic makes gummy-shaped supplements for the Indian market

Related tags: Investment, Vitamin

Hyderabad-based nutritional supplements maker Genmedic Healthcare Pvt Ltd received an investment boost from the ad-for-equity investment arm of media firm Bennett, Coleman and Company Ltd (BCCL), Brand Capital. 

Media reports say that the investment is worth around US$1.5m.

Brand Capital invests in lieu of ad space across its media publications such as The Times of India​ and The Economic Times​. It also maintains a number of portfolio firms, with investments in consumer-facing ventures.

Genmedic, which was incorporated in 2013, was set up to tap into the domestic nutritional and gummy brand market. The company, which makes vegetarian gummy supplements, has a fulyl-fledged manufacturing facility in Hyderabad. Products include a multi-vitamin formula and a calcium and vitamin D formula.

Genmedic’s angel investor Corbin Wood, a US-based branding expert, said while the category for gummy-shaped nutritional supplements is still small, it is growing and this investment would position Genmedic as a major supplier of local gummy-shaped nutritional supplements in India.

As a whole, India’s dietary supplements market is estimated to be worth $4bn by 2020 said a study commissioned in 2015 by the Associated Chambers of Commerce and Industry of India (Assocham). 

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