When 29 year-old Rishabh Chokhani decided to venture into the startup space, he decided to focus on the organic products sector. That was a natural choice for the graduate from Prin. LN Welingkar Institute of Management Development & Research, Bengaluru as he is passionate about fitness. Besides, his family is in the business of pharmaceutical manufacturing and exports, research and development of compounds and distributors of cosmetic chemicals for a long time.
A botanical is a substance obtained from a plant and is used typically in medicinal or cosmetic products. However, botanical ingredients are present in almost every ingredient in daily use items like spices, herbs, medicinal herbs, dietary supplements, food, etc..
With Naturevibe Botanicals, Chokhani's aim was to launch foods that do not contain preservatives and he decided to launch it in the US in 2017. Accordingly, the startup's product categories includes superfoods, essential oils, spices, herbal powders, organic and herbal teas etc.
Speaking with Firstpost, Chokhani claims all his products are gluten-free, contain no preservatives, artificial chemicals, and are privy to ingredients which are only found occurring naturally. “Our products like Brahmi leaf capsules, essential oils like clove oil, superfoods like Amla powder, Yacon root powder and natural spices use natural herbs and ingredients. Our B2C business in USA is already nearing 10 million dollar business in less than 16 months,” he said.
Naturevibe has received the USDA Organic certification, non-GMO-project verification and is a member of the Natural Products Associations (NPA) and several other organisations. The products are ISO 22000, WHO GMP and FSSAI (manufacturing category) certified, he said.
About four billion people, i.e. 80 percent of the world population presently use herbal medicine for primary healthcare, the World Health Organisation (WHO) has estimated.
With its products accepted in the US, Chokhani launched in India in June 2018. He has invested $4 million in the startup with the help of the parent company, Euroasia’s Organics which supplies a diverse customer base around the world, comprised of distributors, nutritional supplement manufacturers, spice companies, tea and beverage companies, flavor and fragrance houses, nutraceutical companies, manufacturers, confectioners among others.
Based in Mumbai, the startup sources raw materials from the western and southern parts of the country. It has started its launch in India with herbal powders. The next 30-40 products are ready, says Chokhani, which are food items such as spices and herbal tea.
The organic food market is still a niche concept in India, said Chokhani. According to an EY Report on Indian Organic Market March 2018, the current Indian domestic market is estimated at Rs 40,000 million which is likely to increase by Rs 100,000 million to Rs 120,000 million by 2020 with a similar increase in exports.
In this booming market, Naturevibe Botanicals plans to sell and promote greener ways of living by providing the ‘best natural alternatives and organic food’, says Chokhani. Currently, it sells through its website (naturevibe.com) and major ecommerce platforms such as Amazon, Snapdeal and eBay as well.
Chokhani is confident that the startup will breakeven in less than a year. “We are planning to take Naturevibe across the globe to Australia, UK and the rest of Europe,” he said.
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Updated Date: Oct 03, 2018 10:38:17 IST