New Delhi, March 25 -- Bengaluru-based Elev8 Venture Partners has backed consumer-facing Fullife Healthcare in a funding round, as investor interest in the health-and-wellness sector picks up.

Fullife, the company behind nutrition brands Fast&Up and Chicnutrix, announced Wednesday that it raised Rs 300 crore (about $32 million) from Elev8 Venture Partners and the venture fund's limited partners in a Series D funding round. This marks Elev8's debut investment in the direct-to-consumer (D2C) space.

Last November, VCCircle had reported that a clutch of domestic and foreign private equity firms were evaluating an investment in Fullife Healthcare Pvt Ltd after its talks with a strategic player such as Cipla Health fizzled out. Private equity firms such as ChrysCapital, Kedaara Capital, Multiples PE and L Catterton as well as PremjiInvest, the family office of Wipro's Azim Premji, were in early-stage discussions to invest in the company, VCCircle reported at the time.

Avendus Capital was the exclusive financial advisor for the transaction.

The startup said it will use the proceeds from the round to accelerate growth for Fast&Up, Chicnutrix and NightOut, which currently offer over 100 stock keeping units (SKUs) across hydration, metabolic health, sports nutrition and beauty wellness.

Besides its current portfolio in hydration, weight management and beauty nutrition, Fullife plans to expand into high-growth segments such as digestive health, sleep support and protein-based nutrition.

For Elev8 Venture Partners, Fulllife marks its sixth investment from the current fund. In September, the growth-stage venture capital fund backed by Venture Catalysts, made the final close of its debut vehicle at Rs 1,400 crore ($158.7 million at the time), falling short of its original $200 million target. Since its founding in 2023, Elev8 has already deployed one-third of its corpus into five companies: Astrotalk, IDfy, Smallcase, Porter and Snapmint. Its cheque sizes range between $8 million and $14 million (around Rs 75 crore to Rs 132 crore).

Founded in 2011 by Varun Khanna and Vijayaraghavan Venugopal, Fullife Healthcare Pvt. Ltd specialises in nutrition, including key categories such as hydration, wellness and weight management. The company's investors include the late Rakesh Jhunjhunwala, Sixth Sense Ventures, Kotak Securities, Akash Prakash and Morgan Stanley Private Equity Asia.

Its flagship brand, Fast&Up, launched in 2015, delivers active lifestyle nutrition across tablets, stick packs and ready-to-drink formats. Fullife is a backward-integrated company, with in-house manufacturing across effervescents, functional foods, beverages and innovative formats such as sticks. The portfolio also includes the beauty brand Chicnutrix and the hydration brand NightOut, with a presence in more than 40 countries and ongoing expansion across Europe and the US.

Sixth Sense had invested in the company in 2018 and partially exited two years ago. Morgan Stanley PE Asia led the company's Series C round that raised $22 million in December 2021. Earlier this year, the company raised Rs 17.5 crore, or a little more than $2 million, in what was likely a bridge round of funding from Morgan Stanley PE Asia, Kotak Alts, and Dhawan, among others, according to VCCEdge.

Consumer health and wellness space is getting increased attention from investors and strategic players.

Earlier this month, Mosaic Wellness, the consumer health company behind brands such as Man Matters, Be Bodywise and Little Joys, secured investment from 360 ONE Asset, in a transaction involving both primary and secondary components. Drugmaker USV also acquired a controlling stake in Wellbeing Nutrition in an all-cash deal that valued Wellbeing at around Rs 1,583 crore.

In December 2025, Fireside invested $2.9 million in plant-based nutrition firm Earthful. In 2024, Zydus Wellness bought healthy snack brand Naturell for Rs 390 crore. In 2023, Marico acquired a majority stake in Plix for Rs 369 crore, and HUL picked up a majority stake in OZiva in 2022.

Published by HT Digital Content Services with permission from VC Circle.