NEW DELHI: TruNativ, a Mumbai-based nutrition brand focused on protein and wellness products, has raised about $30 million in a Series B funding round led by healthcare investor OrbiMed, as it looks to expand distribution, invest in product development and enter overseas markets, the company said in a statement on Tuesday.
The round included both fresh capital and secondary share sales by early investors.
The funding comes as India's nutrition and protein market attracts growing consumer interest, creating opportunities for brands that have spent years building awareness around protein consumption beyond fitness enthusiasts.
TruNativ plans to use the proceeds to deepen its presence across direct-to-consumer channels, quick commerce, modern trade, pharmacies and other retail formats. The company is also preparing to enter international markets, with launches in the United Arab Emirates and Singapore targeted by the end of the year, founder and chief executive Pranav Malhotra said.
“We will also focus on driving innovation and strengthening our R&D capabilities. We believe that India should not just be a consumer of nutrition but also an innovator in the field. Therefore, innovation and R&D will remain key areas of focus as we continue to grow,” Malhotra said.
The broader category is expanding rapidly. India is home to 2,672 nutrition-focused food startups, including The Whole Truth Foods, OZiva and Wellbeing Nutrition, according to data intelligence platform Tracxn.
Market opportunity
Market research firm Mordor Intelligence estimates India's protein market will grow from $1.62 billion in 2026 to $2.22 billion by 2031, representing a compound annual growth rate of 6.54%.
"I’ve seen this category grow from virtually zero to what it is today. Back then, protein wasn’t a mainstream concept and we had to educate consumers about its benefits. We have built the business through that noise and helped drive awareness around protein consumption,” Malhotra said.
TruNativ reported revenue of about ₹125 crore in FY25 and expects to cross ₹200 crore in the current fiscal year, according to Malhotra. The company is prioritizing growth over profits as it scales operations.
“We are going to be making strategic investments. We are not largely a burning business of sorts. While we do not intend to be a profitable business at this stage since we're expanding, we are currently operating at breakeven,” Malhotra said.
A key driver of that expansion has been quick commerce, which Malhotra said has accelerated access to new customers and geographies. “Quick commerce has democratized access to consumers because you cannot expect a business to enter five lakh pin codes in a year when, earlier, it would have taken 10 years.”
Product innovation remains central to the company's strategy. TruNativ develops nutrition products tailored to Indian consumption habits, including its heat-stable "Everyday Protein," which can be added to staples such as rotis, curries, soups and atta. The company also works with fast moving consumer goods (FMCG) brands to fortify food products with protein, extending its reach beyond its own portfolio.
Founded by mother-son duo Pranav Malhotra and Mamta Malhotra, TruNativ operates across five nutrition categories: sugar substitutes, protein, gut health, beauty wellness and performance nutrition. In 2022, Kolkata-based FMCG firm Emami Ltd had acquired a 19% stake in TruNativ.
“We have partnered with OrbiMed, one of the world's largest healthcare-focused investment funds, and have sufficient muscle to build our way through this. We are not looking at an acquisition at this point in time,” Malhotra said.
The company continues to position itself around broader nutrition adoption, particularly protein consumption across age groups.
“Protein is beneficial for people of all ages, and we will find the most convenient ways to provide it to consumers alongside other products,” Malhotra said. “India has largely been dependent on churans, but science has much more to offer. We can definitely look at expanding our fibre portfolio as well,” he added.
