Gabriel Budi Sutrisno · · 1 min readUnilever Ventures leads $6m round of Indonesian vitamin brand
Youvit, an Indonesia-based vitamin brand, has raised US$6 million in a series B funding round led by Unilever Ventures.
Existing investor DSG Consumer Partners and several undisclosed new backers also participated in the fundraise.
Youvit co-founders Wouter van der Kolk (left) and Maarten Vrouenraets / Photo credit: Youvit
Founded in 2016, Youvit’s offerings are available in more than 20,000 retail stores as well as in major ecommerce platforms and its own direct-to-consumer website.
Its products target Southeast Asia’s urban millennials. About 70% of the brand’s consumers are female.
Youvit will use the fresh funds to fuel its expansion plans, starting with Malaysia. The company will also grow its product offering and double down on its omnichannel presence.
According to a survey by Neurosensum, 73% of Indonesians are consuming more supplements amid the pandemic. Meanwhile, Youvit said that the ASEAN supplements sector is projected to reach US$10.6 billion by 2026 driven by increasing health consciousness among the region’s urban areas.
See also: Exclusive: Vietnamese D2C startup raises $4.3m in series A round
Editing by Miguel Cordon and Lorenzo Kyle Subido
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