Venture capital firm Enygma Ventures has invested R4m into South African natural health retailer and wholesaler Feelgood Health.
The natural health e-tailer and whoelsaler recently graduated from the Startup Circles investor readiness programme where it was handpicked by Enygma Ventures for this seed investment which will see Feelgood Health grow its product offering and expand its reach.
Feelgood Health has been in operation for over 20 years and has “experienced steady growth that has positioned it as a leader in the natural health supplies space”, Enygma Ventures said.
Growing wholesale division
The company also has a growing wholesale division called Natural Wholesalers, focused on wholesale distribution of hundreds of health and lifestyle products to health shops, pharmacies, gift shops, vet shops and delis across the country with the aim of growing the natural health market and supporting business growth in South Africa.
Michele Carelse, founder of Feelgood Health, stated “After 20 years of steady growth without external funding, we felt now was the right time to access venture capital to scale the business to meet the increasing demand for natural health products and reach a wider market. We are thrilled to partner with Enygma Ventures as the funding comes with much-needed strategic and operational support to help us bring this vision to reality.”
Lelemba Phiri, principal and operating partner for Enygma Ventures, commented, “Of the many things that the Covid-19 pandemic has highlighted, the need to have steady and reliable access to health supplies has been at the top of the list. The Feelgood Health team brings decades of experience in complementary medicine manufacture and supply of natural health products. We are excited to see them scale at a time when natural health products and services are needed most.”