USV to acquire 79% stake in Wellbeing Nutrition at ₹1,583 cr valuation

USV, a pharmaceutical and biotechnology company, will acquire a 79 per cent stake in Wellbeing Nutrition at a valuation of Rs 1,583 crore.

USV has signed a definitive agreement to acquire a 79 per cent equity stake in Nutritionalab Pvt Ltd, which owns "Wellbeing Nutrition", according to a joint statement.

This includes 35 per cent from the founder Avnish Chhabria and 44 per cent from existing shareholders. Its investors -- Early backers Fireside Ventures and Hindustan Unilever -- will divest their collective 40 per cent stake.

This Rs 1,583 crores all-cash transaction represents the largest exit in India's health and wellness startup space to date, it added.

This strategic expansion of USV, a leading player in diabetes and cardiac care, into consumer wellness is aligned with its expansion across the healthcare continuum.

"The addition of Wellbeing Nutrition reinforces USV's evolution into a comprehensive healthcare powerhouse spanning both therapeutic excellence and consumer ...