New Delhi, June 12 -- Aces Intact Pvt Ltd, the operator of nutrition brand Ace Blend, is in advanced discussions to secure investments for its new funding round, according to two people familiar with the matter.
Founded in 2016 by Shivam Hingorani, the Mumbai-based company develops plant-based formulations, including protein supplements, probiotics, coffee and other nutrition products. The firm is in advanced talks to raise Rs 75-80 crore ($7.8-8.4 million) in a Series B round. One source, speaking to VCCircle on the condition of anonymity, stated that early-stage venture capital firm 3one4 Capital is among the top contenders to invest.
The round includes both primary and secondary transactions, and the investment is in the due diligence stage, one of the sources said.
The fresh funding is said to have given Ace Blend a post-money valuation of Rs 500-550 crore (around $52.4-57.6 million), according to the second source.
Queries sent to 3one4 Capital and Ace Blend remained unanswered at the time of publishing.
This fresh round follows Ace Blend's pre-Series A round in August 2025, in which the startup raised an undisclosed amount from consumer-focused venture capital firm Fireside Ventures.
The company has so far raised $3.3 million. Last year, Ace Blend said it expected to secure an additional $5.7 million in funding, without offering details.
The firm is said to have reported a sharp growth in the last year, with FY26 registering revenues of Rs 40 crores. According to Traxn, revenues in FY25 were at Rs 12.6 crore. While its EBITDA continues to remain negative, the management expects EBITDA to turn positive in the next 12-18 months, the second person cited above said.
According to market research firm Fact.MR, the global dietary supplement market was pegged at $209 billion in 2025 and is expected to hit $500 billion by 2035. The Asia Pacific region was the fastest growing, led by Japan, India and China.
One of the major deals in this space recently includes Mumbai-based pharma company USV Pvt Ltd.'s 79% acquisition of nutraceutical brand Wellbeing Nutrition in February, valuing the firm around Rs 1,583 crore (about $175 million).
VCCircle had also reported in February that nutraceutical ingredients maker OmniActive Health Technologies Ltd was reconsidering a fresh fundraise from global private equity investors and strategic buyers.
According to reports, homegrown PE firm Kedaara Capital was gearing up to sell Universal NutriScience (UNS) for Rs 3,000 crore.
Published by HT Digital Content Services with permission from VC Circle.