Mumbai based The Good Bug is aiming to achieve Rs 1,000 crore in annual revenues by FY28.
The nutraceutical startup co-founded by Keshav Biyani and Prabhu Karthikeyan in 2021 expects to clock Rs 100 crore revenue in FY25.
The 10x growth in revenues is expected to come from the expansion of the firm’s obesity solutions products, specifically its latest product called Advanced Metabolic System, Biyani said.
“This is a patent pending formulation which has given very good results in clinical trials. The market for a product like this is not restricted to India, and going forward, we will look at markets like the US. With this breakthrough, we will touch Rs 1,000 crore (in annual revenue) in the next three to four years,” Biyani added.
The firm is in the process of applying for a patent of its formulation under the Patent Cooperation Treaty (PCT), which allows inventors to file a single patent application to protect their invention in multiple countries. It is also undertaking clinical trials and preparing for launch in markets like the US.
The Good Bug currently has around 30 store keeping units (SKUs) in its product portfolio, almost equally split between digestive health solutions and obesity solutions. Going forward, the latter is expected to contribute significantly to the company’s revenue growth, Biyani said, since it tackles a universal issue.
Simultaneously, the startup has also initiated discussions with investors to raise a series B round. The funding will be used towards further clinical trials and regulatory costs for patent filings in different markets, in addition to carrying out research and development for product portfolio expansion.
Of its 105 strong workforce, nearly 15% are in the R&D department. The firm has a budget of around $2 million a year for research and development. The firm last raised $3.5 million in a series A extension round from Harsh Mariwala’s family office, Sharrp Ventures, in October 2024.
In addition to its over-the-counter nutraceutical products, The Good Bug is also developing an app to supplement its products. The app will help track not only calorific intake, but also macro and micro nutrients in what a person is eating, Biyani said.
“The app’s algorithm uses AI/ML to closely track nutrient intake and its impact on the body. We are looking at a Q2 launch for the app,” Biyani added.