Personalised supplement subscription company, 1Balance, has raised US$2 million in seed funding, start-up Indian news website YourStory has reported. Venture capitalist firm Accel led the round, joined by a collection of angel investors.
1Balance, a nutraceutical company with operations in the US and India, said in a statement that the funds would be used to set up production facilities, a product team and a distribution network. The current supplement manufacturing facilities are located in the US and are organic-certified and GMP-certified.
Subrata Mitra, founder and Managing Partner at Accel Partners, said: "1Balance has a unique approach and positioning in the healthy living segment: It is unifying latest technology and traditional herbal sciences (like Ayurveda) to deliver a set of robust health and wellness products. With personalisation at its core, 1Balance is positioned well to emerge as a leader in the healthy lifestyle space."
1Balance offers two different subscriptions. One is for herb mix, consisting of whole herb capsules for $39 a month. The other is a tea blend subscription that is slightly cheaper at $29 a month. A quiz is used to establish what specific products each pack will entail.
The company was established in 2018 by CEO Dikshant Dave, Shrinivasa Sharma, and Karthikeyan Lyer.
The company website states that all the herbs used in its supplements are sourced from responsibly grown and harvested farms and cultivations from across the globe.
