Olympic champion PV Sindhu has made an additional investment in the Direct-to-Consumer (D2C) wellness company Hoop, a move into the Indian startup sector. Hoop reported that Sindhu would not only be an investor in the company but also act as a brand ambassador, even if the exact amount of the investment is yet unknown.
Hoop: Founding and Growth
Hoop, founded in 2022 by former McKinsey consultants Twinkle Uppal and Saharsh Agarwal, specializes in wellness products focused on pain relief, muscle recovery, and sleep support. Their product lineup includes sprays and roll-ons, which are sold through their website and major e-commerce platforms like Amazon and Flipkart.
The startup gained significant traction early on, being selected for the second cohort of the Sequoia Spark fellowship program by Peak XV Partners (previously known as Sequoia India and Southeast Asia). This program provided Hoop with an equity-free grant of $100,000 and crucial mentorship in January 2023.
Support and Investment
Hoop is not just buoyed by Sindhu’s endorsement. It also boasts backing from prominent angel investors, including Abhinav Sinha, COO of OYO; Rohit Kapoor, CEO of Swiggy’s food marketplace; Suhail Sameer, former CEO of BharatPe; Shantanu Deshpande, founder of Bombay Shaving Company; and Arjun Vaidya, founder of Dr. Vaidya’s.
Co-founder Twinkle Uppal of Hoop provided perspective on the beginnings and development of the company. As exercise-related injuries become more frequent, “we noticed a significant gap in the market for effective solutions,” Uppal said. The co-founders committed 18 months to research and development before releasing their products in October 2023 to make sure they were cutting edge and practical. Hoop has amassed over 50,000 users in more than 1,000 Indian cities since its introduction.
Sindhu’s Endorsement and Vision
PV Sindhu, renowned for her athletic prowess and now for her entrepreneurial ventures, expressed her enthusiasm for Hoop’s mission. “Pain is a part of my daily life, but I don’t see it as a negative. I appreciate how Hoop positions pain relief and muscle recovery as essential self-care rather than something to be feared. I’m excited to introduce Hoop products not only to athletes but to everyone aiming to stay active,” Sindhu said.
Sindhu’s engagement in Hoop comes soon after she recently supported Better Nutrition, an FMCG business owned by Greenday. This calculated action fits in with the growing trend of athletes and celebrities funding and supporting health and wellness firms in an effort to encourage healthier lives.
The Rise of D2C Brands in India
The rise of D2C brands in India has been meteoric, fueled by increased internet penetration and smartphone access. Over the past few years, various sectors have seen a surge in D2C brands, offering consumers direct access to products online, bypassing traditional retail channels. This trend is projected to continue, with India’s D2C market expected to reach $100 billion by 2025.
Hoop’s success story is emblematic of this broader trend. By addressing a niche yet significant market need—effective solutions for exercise-related pain and recovery—they’ve positioned themselves well within the burgeoning wellness industry. The support from seasoned investors and the endorsement from a sports icon like PV Sindhu further solidify their market position and growth potential.
Future Prospects
Hoop wants to increase its influence and reach with Sindhu’s help. An Olympic medallist’s support for the brand not only increases its reputation but also fits with the startup’s goal of encouraging active and healthy lifestyles.
Hoop’s ongoing innovation and growth serve as evidence of the promise in the Indian startup scene. The confluence of smart funding, efficient product development, and robust mentorship through initiatives such as Sequoia Spark underscores the vibrant and encouraging milieu for startups in India.
PV Sindhu’s investment in Hoop underscores the growing synergy between sports personalities and the startup ecosystem in India. As D2C brands like Hoop continue to flourish, driven by innovation and strategic endorsements, the wellness sector is set to see significant advancements. Sindhu’s involvement not only enhances Hoop’s brand value but also inspires a broader audience to embrace wellness and self-care. Hoop’s journey from inception to becoming a recognized name in the wellness industry exemplifies the possibilities that lie within the Indian startup landscape. With continued support and strategic growth, Hoop is well on its way to making a lasting impact in the market.
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