Unilever buys 2 wellness startups for ₹334 Cr🏋🏻; Pottery Barn signs Deepika🛋️; Amazon to invest in new biz💰

HUL buys into 2 digital-first wellness startups for ₹334 cr, Pottery Barn signs Deepika as brand ambassador, Amazon will continue to invest in new biz, Funding Deals and more.

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Dec 09, 2022

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HUL buys into 2 digital-first wellness startups for ₹334 cr🏋🏻

Packaged consumer goods maker Hindustan Unilever Ltd on Thursday picked up stakes in two digital-first health and wellness companies, entering the domestic market for health and wellness products that are expected to touch ₹30,000 crore over the next five years.

The company acquired stakes in Zywie Ventures Pvt. Ltd, the maker of OZiva brand of lifestyle protein products, hair and beauty supplements; and Nutritionalab Pvt. Ltd sells products under the Wellbeing Nutrition brand.

HUL spent a total of ₹334 crore for the two deals. Existing leaderships of both companies will continue to manage their operations, while HUL will get representation on their boards.

Pottery Barn signs Deepika Padukone as brand ambassador🛋️

American furniture retailer Pottery Barn on Friday announced a global partnership with actor Deepika Padukone who has been signed as a brand ambassador to promote the company’s international expansion.

As a brand ambassador for Pottery Barn, Padukone will also work closely with the brand to co-create a collection, the retailer’s local partner in India Reliance Brands Limited said in a statement announcing the association.

This marks the actor’s increasing portfolio of global endorsements—in May, French luxury brand Louis Vuitton announced actor Deepika Padukone as its latest ‘House Ambassador’. The actor is also the face of clothing brand, Levi’s, as its global brand ambassador.

Hot Shorts⚡

Uniqus Consultech Inc, a tech-enabled platform that offers ESG, and accounting and reporting consulting, announced the launch of its operations by raising $12.5 million in Series A funding for a minority stake sale.
Vidyut Tech, a startup focused on EV financing and vehicle lifecycle management has raised $4 million in a mix of equity and debt in a round co-led by Force Ventures, Veda VC, and a clutch of strategic angels in the clean energy space.
Artificial intelligence-focused agricultural technology startup Intello Labs has raised Rs 23.24 crore or $2.82 million in a Series B round led by Saama Capital.
Mabel, a one-stop jewellery shopping platform, has raised $1.5 million in a seed round led by Whiteboard Capital, Sauce VC and Incubate Fund.
Legaltech startup Amikus AI has raised over Rs 96 lakh in its pre-seed round led by Inflection Point Ventures (IPV).

Funding Deals 💰

Amazon will continue to invest in new biz: Manish Tiwary💰

E-commerce marketplace Amazon India will continue to try out and invest in new business opportunities, even after the US-based e-tailer discontinued some of its verticals recently, said a top company executive.

It would also scale up and invest significantly in grocery, social commerce, business-to-business (B2B) marketplace, and pharmacy over the next year.

In November, Amazon India said it is winding down its food delivery business, exiting its Amazon Academy online learning platform and discontinuing Amazon Distribution, a wholesale ecommerce website available to kiranas in Bengaluru, Mysore and Hubli. The decision is part of its review process, it said.

Both the edtech vertical and food delivery were launched in 2020, in the middle of the pandemic.