Nutrabay, a direct-to-consumer sports nutrition retailer, has successfully raised $5 million in its first institutional Series A funding round, led by RPSG Capital Ventures with participation from Kotak Alternate Asset Managers Limited. The funds will be utilized for omni-channel expansion and to accelerate new product innovation, as the company aims to enhance its product portfolio, which currently includes over 70 items and has seen an 80% growth in FY24. Co-founded in 2017, Nutrabay operates as a multi-brand retail store featuring over 100 brands and its private label products. The Indian nutritional supplements market is projected to reach $28.70 billion by 2032, further prompting Nutrabay's plans to add more than 50 new products by the next financial year. RPSG's Managing Partner Abhishek Goenka emphasized the growing demand for sports nutrition, particularly in Tier II markets, and expressed confidence in Nutrabay's commitment to quality and innovation.