Hyderabad-based nutraceutical firm Botanic Healthcare said it has raised Rs 250 crore ($29 million) in a funding round led by private equity firm Skateboat Capital.
The round also saw participation from Abakkus Four2Eight Opportunities Fund and DS Group, which is also a limited partner (LP) of Stakeboat Capital.
Founded in 2013, Botanic Healthcare manufactures botanical extracts for industries, including pharmaceuticals, health foods, and personal care. It has a presence in the US, New Zealand, Australia, Canada, Europe, South Korea, Southeast Asia, and Latin America.
Botanic Healthcare, which aims to grow by 400% over the next three years, plans to use the fresh funds to consolidate its group entities and expand the business. As part of its plans, Botanic will enhance its product portfolio and forge strategic partnerships, while boosting its R&D and clinical research capabilities through joint ventures and collaborations.
“Botanic plays a pivotal role in advancing complementary healthcare across industries, including pharmaceuticals, functional foods & beverages, personal care, and more. Its focus on innovation and clinically proven botanical extracts is poised to influence the future of health and wellness,” said Chandrasekar Kandasamy, managing partner, Stakeboat Capital.
Other investments by Skateboat include rehabilitation care provider Sukino, e-publishing service provider Newgen, robots solution provider DiFacto, and SaaS firm Leadsquared.
