Wednesday, September 7, 2016
GrowthStory Backed Health-Tech Startup Grow Fit Acquires Drink King
Mobile health company Grow Fit, which is committed to helping more than 300 million Indians at risk of contracting lifestyle diseases achieve peak wellness, has announced its expansion into Functional Beverages with the acquisition of Drink King. The acquisition, which was made for an undisclosed consideration of cash and stock, makes Grow Fit a one-stop solution for those seeking a companion on their preventive health and wellness journey.
Post the acquisition, Grow Fit’s offerings will span areas including expert health advice, customised diet plans, therapeutic and functional foods, and nutritional beverages.
Following the trend in the West, meal replacements are gaining popularity in India - especially among the younger generation interested in adopting a healthy lifestyle. Analysts forecast the global meal replacement market to grow at a CAGR of 7.1% between 2016 -2020. According to a recent PWC report, India ranks among the top 10 global growth markets for nutrition F&B. With the fast paced lives of today’s generation and increasing focus on preventive healthcare, the category is expected to expand.
A nutritional beverage platform started in early 2015, Drink King provides millennials and busy professionals with wholesome beverages that could serve as a quick meal while also fulfilling daily nutritional requirements. Catering to committed gym-goers, Drink King offers customised options for special regimes like detox, muscle gain and weight loss.
Commenting on the acquisition, Jyotsna Pattabiraman, CEO at Grow Fit said: “Grow Fit combines data science, medical science and behavioural insights to guide people to a healthier, happier version of themselves. We are the only mobile health solution that goes beyond giving advice to actual implementation. Our acquisition of Drink King augments our commitment to providing our 100,000 customers comprehensive and easy solutions for all their everyday health and wellness needs”.
Ritvik Sharma and Arpit Goyal, Co-Founders, Drink King, said: “Our alignment with Grow Fit helps us expand our service offering and meet the growing demand for healthy meal replacement options in India. We started Drink King after finding a lack of healthy options available both online and on-ground. What is available today is mostly either too high in sugar, or does not have enough protein, fat, or fiber. Drink King allows customers to order custom smoothies that are prepared fresh from organic fruits, green vegetables and vital supplements.”
There are around 3 million active gym goers/ health club members in India. The key to capturing this segment is customizing the health shakes to individuals that appeal to their needs and also providing them consultations round the clock. While there are plenty of options available in the market, each body reacts differently to foods and supplements. Understanding what works well for their body is of utmost importance and this is why a scientifically engineered diet is a must. The integration of Drink King into Grow Fit’s operations is a step forward in this direction.
Benefits of using meal replacement shakes and nutrition bars in weight management include:
· Individuals are provided with a pre-measured amount of food with a known calorie level, thus negating the need to measure or weigh meals or to estimate portion sizes;
· Food is easy to transport and prepare and requires no clean-up. Individuals can these simple, convenient preparations instead of devoting time and energy to planning, preparing, and cleaning up after a meal;
· Dieters have reduced contact with calorie-dense foods and the consumption of shakes ad bars involves less decision-making (e.g., consuming a shake or bar during a lunch break at work is easier than going to a restaurant and making a healthy food choice in the recommended portion size to meet weight loss goals);
· Interestingly, such shakes may further support weight loss via sensory-specific satiety. Sensory-specific satiety refers to the decreasing pleasure of tasting, smelling, or eating the same food or beverage until full or satisfied. Using monotonous meals or snacks (such as shakes or bars) triggers sensory-specific satiety, which may help individuals further decrease their caloric intake