Indian sports nutrition brand, Daaki, secured undisclosed amount of funds in angel funding round from a Bangalore based prominent investor Rohan Agila (Business Partner, Capvent Advisors).
Daaki is a Bangalore-based youth oriented brand looking to manifest themselves as a brand that connects with real athletes and fitness enthusiasts. The company will be using the funds secured majorly for research and product development, to enhance and expand its new supplement product line.
Amit Dabas, founder of Daaki, is a business analyst who has worked with companies like Wipro Technologies, Lloyds TSB and Iry Tech Pvt. Ltd. He has translated his prior athletic experience along with five years of research and development period with manufacturers and application labs across India into building his concept.
Speaking on the funding, Amit says, “Our very first task was to create a unique identity that would resonate with the consumers and at the same time get our supplementation ideas on the table. It is a fresh way to look at athlete’s food. Daaki has Re-Engineered sports nutrition. With our investors backing us strongly, we can get the message out for sure.”
The sport nutrition market is projected to make a significant growth in the near future and Daaki is also looking to focus and expand its marketing operations pan-India as well as overseas when they close next round. Increasing fitness awareness along with demand for functional food supplements are the key factors favouring the sector’s growth.
Within the product-type, sports drinks accounted for the largest market share in 2016 and it is expected to retain its dominance. This is also due to the market placement and growing perception of sports drinks being a healthier option to sodas.
As per reports, Asia-Pacific is expected to be the fastest growing region within the sector, witnessing the highest CAGR of 8.21% during the forecast period. Major contributors to the growth of the market include India, China, Japan, South Korea and Malaysia.