Corporate giant Marico invests 226 CR in Indian plant-based protein brand Cosmix

FMCG giant Marico has expanded its portfolio of digital-first, plant-based protein brands by acquiring a 60% stake in Indian startup Cosmix for INR 226 crore. It is a remarkable outcome for Cosmix, which was started in 2019 by Vibha Harish and Soorya Jagdish with an initial capital of INR 20 lakh, and was completely bootstrapped.

The remaining 40% stake will be acquired by Marico over the next three years, valuing Cosmix at an impressive INR 375 crore. What’s even more fascinating is that Cosmix, for the first time in its journey, is expected to touch the INR 100 crore revenue mark in FY 2026.

Marico’s acquisition of Cosmix makes one thing absolutely clear — protein is the demand of the hour in the Indian market, especially clean protein. The Indian diet, which was once renowned for providing natural protein through lentils, chickpeas, and other plant sources, is currently falling short. On the other hand, options such as whey protein, which are animal-based, may cause long-term health concerns.

And Marico knows this well. Seeing the potential of the plant-based market, the company has invested in other startups such as Plix, Just Herbs, Beardo, and True Elements. Marico acquired Plix at a valuation of INR 369 crore, initially picking up a 32% stake in July 2023, while the remaining 26% was acquired later.

These businesses combined clocked revenues of INR 900 crore towards the end of FY 2026. Marico plans to increase that number to the range of INR 2,000–2,500 crore within the next three years.

“Foods are of interest to us, so we will continue to look at such acquisitions. Our track record in acquisitions has been good. We now have a strong playbook. We also believe we see ourselves as a strategic investor of choice.

“Cosmix has already demonstrated deep consumer resonance with its best-in-class, innovative offerings. Together, we are committed to accelerating their journey, expanding into relevant adjacent wellness categories, and building a sustainable, profitable brand that inspires trust and delivers meaningful value to consumers across India,” Marico said in an official joint statement with Cosmix.

Cosmix’s story is a perfect example of building a brand not just to make money, but to stand the test of time. Today, that becomes possible when a brand is built from personal experience that resonates with the market, while also being sustainable and ethical. Harish battled an autoimmune disease for a large part of her youth and was able to reverse it through a plant-based approach.

There’s no better time than now to go plant-based!

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