This organic health foods startup went from just $3M revenue in 2018 to $24M in 2020 – YourStory

Posted: March 31, 2020 at 8:46 am

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The food industry and consumption patterns are going through a sea change with increased awareness leading to consumers wanting organic products more and genetically modified ones lesser and lesser. With that in mind 31-year-old Rishabh Chokhani, whose family was in the pharmaceutical manufacturing business, decided to set up his startup, Naturevibe Botanicals, in 2017.

Founder of Naturevibe Botanicals, Rishabh.

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A once obese Rishabh developed a passion for healthy living and became fit. He wanted to motivate others too to adopt a healthier lifestyle by starting a venture in the organic food industry. He worked in his family's pharma business.

The Mumbai-based startup sells organic health products like superfoods (wheatgrass and chia seeds), Ayurveda capsules, essential oils, spices and grains, and culinary items like saffron and coconut flour.

According to Agademy, India has 650,000 farmers in organic farming. Rishabh says that India also has the biggest wild harvest area for organic producers globally with more than 80,0000 organic farmers.

Moreover, India ranks ninth in organic cultivation. Indian organic food market is anticipated to grow over 25 percent a total 0.4 percent of the agricultural land is designated for organic farming in the country, which provides extensive scope for expansion.

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Naturevibe Botanicals sells 98 percent of its products online and is a B2C brand.

The startup procures organically produced ingredients from 1,800, a doubling of the corresponding figure from 2018. After this, they start the production process of their products. We also shelf our products in some retail stores in the US, says Rishabh.

Naturevibe raised $4 million from EuroAsia Organics and the total money invested in the startup is around $5million. Rishabh notes that it has gone from $3 million in 2018 to closing this year at $24 million. The 80-member team sells only online on its own website and on Amazon.

Initial investments were used to procure raw materials and machinery for the startups manufacturing facility near Mumbai. These funds were also utilised towards marketing.

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Naturevibe Botanicals offers organic food and health products that are free from toxic pesticides, growth hormones, antibiotics, synthetic fertilizers, GMO-free, and carry all the necessary certifications. The startup competes with 24Mantra Organic and Organic Tattwa.

Rishabh notes that once the coronavirus threat passes, the startup is looking to expanding its business globally and wants to start product exports to Europe and Australia.

(Edited by Evelyn Ratnakumar)

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This organic health foods startup went from just $3M revenue in 2018 to $24M in 2020 - YourStory

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March 31st, 2020 at 8:46 am

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