The 13-year-old startup, which spun out of online pharmacy startup 1MG, said on Thursday that it is buying back shares worth $6.5 milion from employees. The startup was EBITDA profitable in the financial year ended March.
“The Indian sports nutrition market, currently underpenetrated, is expected to expand due to a rise in fitness awareness and the increasing importance of nutrition and protein,” said Arpit Vinayak, VP at ChrysCapital, in a statement.