FMCG firm Wipro Consumer Care and Lighting on Monday said its venture capital arm has invested in healthcare brand Onelife Nutriscience.
The company, however, did not disclose the financial details of the transaction.
“Onelife Nutriscience, which owns the consumer healthcare brand Onelife has raised funding from Wipro Consumer Care – Ventures, the venture capital arm of Wipro Consumer Care and Lighting. Onelife has a diverse set of offerings focusing on wellness, immunity and overall Nutraceutical segment,” Wipro Consumer Care and Lighting said in a statement.
Onelife Nutriscience was founded in 2019 by Gaurav Aggarwal, who has over 20 years of experience in the nutrition industry.
Onelife Nutriscience plans to use the funds for its next level of growth.
“We look forward to working closely with Wipro over the coming years as we build Onelife into a formidable player in the nutrition and wellness space.
“Their backing is a great value addition to our growth plans in India as well as globally. The nutraceuticals industry is looking at growing exponentially, and we are excited to increase our market presence through innovative products,” said Aggarwal.
Sumit Keshan, Managing Partner, Wipro Consumer Care – Venture, said Onelife has robust R&D capability, strong product knowledge, and a mature and passionate team.
“Health and immunity are on top of every consumer’s mind today. They are increasingly getting conscious of the benefits of preventive health too. These offer immense growth potential for the company, and Onelife intends to address all these requirements of consumers in a holistic way,” he added.
Wipro Consumer Care’s businesses include soaps, toiletries, personal care products, wellness products, electrical wire devices, domestic and commercial lighting and modular office furniture.