Deccan Healthcare, an India-based developer of nutraceutical products for boosting immunity and addressing chronic ailments, has raised 15 crore (US$3.2m) in VC funding from Nexus Venture Partners.
PRESS RELEASE
Deccan Healthcare, an innovative products company in the Indian health and wellness market, today announced that it has received a Rs 15 crore investment from Nexus Venture Partners, India’s leading Venture Capital firm.
Deccan Healthcare has developed, through intensive R&D, a variety of nutraceutical products which boost immunity and address chronic ailments. The key products include a flaxseed-based vegetarian Omega-3 which they sell under the OxyFlax and Nulife-ISB brand. It is useful for cardiac care, bone health, diabetes prevention, and is also anti carcinogenic and anti-inflammatory. Frost and Sullivan has touted flaxseed based Omega-3 as the next superfood in the making.
Speaking about the funding, Mr Minto Gupta, Founder & CEO, Deccan Healthcare said, “We at Deccan Healthcare are happy to be associated with Nexus Venture Partners. The funding will help us enhance our R&D efforts and our expansion plans. Deccan is launching a variety of nutraceuticals addressing specific life-style problems and will also explore export opportunities.”
Sandeep Singhal of Nexus Venture Partners who will join the Deccan Healthcare board, said, “The Indian nutraceuticals market is over a billion dollars growing at 30-40% per annum. Mr. Gupta is a passionate entrepreneur who has built Deccan into a leader in the Omega-3 market and is now expanding into a variety of nutritional supplements.”
About Deccan Healthcare
Deccan Healthcare is an innovative nutraceutical products company based out of Hyderabad, India. Deccan Healthcare has a strong reputation as a company that develops, manufactures and supplies high-quality wellness products which have a medicinal effect on chronic health conditions related to Cardiac, Bone & Joint, Neuro care and women care. The product portfolio includes vegetarian Omega-3 brands like OxyFlax for good heart, Nulife-ISB for child immunity and Omegamax-Feminine for pregnant women. Other popular brands are Ostan-G for joint pain reduction, Lycocare for chronic disease prevention, Minicare for young women health and COQ-Plus for skincare and male fertility.
The company is led by Minto Gupta, CEO and Founder, and a professional team with extensive experience in the pharmaceutical space. Deccan currently has a strong presence in South India and is expanding rapidly in the West and North. For details please visit (www.deccanhealth.com)
About Nexus Venture Partners
Nexus Venture Partners is one of the Top Venture Capital Firms in India focused on investing in innovative early to growth stage companies with a strong India connection. It has recently been named as one of only two firms from India in the Red Herring Top 100 Global Venture Capital firms. Started in 2006, Nexus Venture Partners is a group of successful entrepreneurs with extensive investing experience in entrepreneurs in India and globally. Nexus truly understands the unique challenges faced by entrepreneurs and are aware that it takes more than capital for a company to succeed. Each entrepreneur Nexus partners with has access to the entire team in India and Silicon Valley for help in recruiting talent, forging new alliances, opening doors to new customers, shaping the strategy and connecting with best of breed advisors or board members.
With funds of $320 million under management, Nexus has an active portfolio of over 20 companies. Nexus invests in companies across sectors – technology, consumer services, media, energy, agribusiness, outsourced services, internet and mobile. Some of the companies that Nexus has invested in include Komli (Internet ad network), Suminter (Organic farming), Dlight (Solar Lights), Kirusa (Voice SMS), DimDim (Open Source Web Conferencing), Mapmyindia (Digital Navigation), Unicon (Financial Services) and Netmagic (Internet managed service provider). Investors in Nexus include leading university endowments, foundations and sovereign funds. For more details please visit http://www.nexusvp.com/