By Entrackr
Wellness brand Hoop has secured an undisclosed sum of investment from Olympic medalist PV Sindhu. This looks like an equity against brand promotion as the badminton champion has also joined as an ambassador of Hoop.
The Gurgram-based company had previously raised $100,000 back in January 2023 from a grant round. Hoop has been a part of the Peak XV’s Spark Program and is backed by notable angel investors like Rohit Kapoor, Abhinav Sinha, Naiyya Saggi, Suhail Sameer, Shantanu Deshpande, among others.
Founded in 2022 by Twinkle Uppal and Saharsh Agarwal, Hoop offers a range of natural products for topical pain relief, muscle recovery, and sleep support. Its relief and recovery products are available on its website as well as on marketplaces.
Hoop didn’t disclose numbers such as monthly transactions and revenue but it claims to have customers in more than 1,000 cities in India.
In January, Sindhu had invested an undisclosed amount in Better Nutrition, a biofortified staples brand from Greenday. She has invested in more than 12 brands including used car unicorn Spinny and manufacturing company Bridgestone.
According to market reports, consumer wellness products are currently a market of approximately $20 billion in India today, rapidly growing at over 15% each year.