YOUVIT, an Indonesia-based new generation vitamin brand, announced that it has raised $6 million in a growth funding round.
Unilever Ventures is the lead investor of its latest Series B funding round, along with participation from existing investor DSG Consumer Partners and several other new investors, YOUVIT said in a statement.
According to the statement, the amount raised will be utilized to fuel the expansion plans as YOUVIT aims to become the leading vitamin brand for urban millennials across the region.
With the fresh funding, YOUVIT now plans to expand its product offering and launch new formats, while investing in team expansion.
The company plans to double-down on its unique omnichannel distribution model with a presence in more than 20,000 modern retail stores and strong traction through online channels and its direct-to-consumer (DTC) platform at www.youvit.co.id.
The expansion plan includes the launch of the full product range in Malaysia and ramping up across Southeast Asia.
“Customers deserve a better experience. We aim to improve the health and well-being of hundreds of millions of customers and as a result grow into the number one vitamin brand for urban millennials in Southeast Asia,” said Wouter van der Kolk, Co-Founder and Chief Executive Officer at YOUVIT.
YOUVIT was started out of a passion for building consumer health ventures that serve consumers across emerging Asia.
After observing the severe lack of affordable, high-quality supplements and the significant deficiencies in the average diet, the founders of YOUVIT spent 18 months working with the U.S.-based product experts and labs to formulate a deliciously tasting functional vitamin supplement in gummy format, specifically tailored towards the dietary requirements and habits of the Southeast Asian consumer.
The brand launched its first vitamin products in 2017 under the YOUVIT brand.
“With its modern and innovative product formats and an omnichannel approach to distribution, YOUVIT is poised to disrupt the large vitamins and supplements market in Southeast Asia,
“We look forward to partnering with Wouter and Maarten as they build out the wellness category in this exciting market,” said Pawan Chaturvedi, Partner at Unilever Ventures.
According to him, YOUVIT also marks the firm’s first investment in the vibrant start-up ecosystem of Southeast Asia, a market which offers us immense opportunities to partner with visionary founders.
The vision behind YOUVIT is that the vitamin category is rusty and old-fashioned, while there is a large market for quality products that specifically target millennials from the emerging middle classes in growth markets such as Indonesia.
YOUVIT is uniquely positioned to leverage the changes happening in the market. After launching its first products in 2017, it quickly became the product of choice for millions of urban millennials, 70 percent of which are female.
Headed by Co-Founders Wouter van der Kolk and Maarten Vrouenraets, YOUVIT has breathed new life into the supplement category with its innovative line of one-a-day gummy vitamins.
The products are formulated with health-conscious millennials in mind and tailored to local tastes and needs such as Halal certification in Indonesia and Malaysia, vitamin dosages based on the local recommended intake values and local ingredients like curcuma.