Olympic medalist PV Sindhu has made an undisclosed investment in the wellness brand Hoop. This investment appears to be an equity-for-promotion deal, as Sindhu has also joined as a brand ambassador for the company.
About Hoop
Hoop, a Gurugram-based company, was founded in 2022 by Twinkle Uppal and Saharsh Agarwal. The company offers a range of natural products aimed at topical pain relief, muscle recovery, and sleep support. These products are available on Hoop’s website and various marketplaces.
Previous Funding
In January 2023, Hoop raised $100,000 through a grant round. The company is part of Peak XV’s Spark Program and has garnered support from notable angel investors, including Rohit Kapoor, Abhinav Sinha, Naiyya Saggi, Suhail Sameer, and Shantanu Deshpande.
Although Hoop has not disclosed specific numbers regarding monthly transactions and revenue, it claims to have customers in over 1,000 cities across India.
Sindhu’s Investment Portfolio
In addition to Hoop, PV Sindhu has invested in several other brands. In January, she invested an undisclosed amount in Better Nutrition, a biofortified staples brand from Greenday. Her investment portfolio includes more than 12 brands, such as the used car unicorn Spinny and the manufacturing company Bridgestone.
According to market reports, the consumer wellness products market in India is currently valued at approximately $20 billion and is growing at a rate of over 15% annually.
Avinash Dyal