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Kalpavriksh Fund exits The Ayurveda Experience with over 6x returns

EntrackrEntrackr · 1y ago
Kalpavriksh Fund exits The Ayurveda Experience with over 6x returns
Medial

Kalpavriksh Fund, a VC fund managed by Acorn Fund Consultants, has announced its exit from its long-term investment in The Ayurveda Experience (TAE) with over 6x returns. Kalpavriksh Fund invested in TAE in 2018 as a part of its Series A fundraise, and subsequently participated in multiple follow-on rounds as well. In 2023, Kalpavriksh Fund was acquired by Prowess Advisors, a global pioneer in food and agri-business advisory services. Founded by Rishabh Chopra, The Ayurveda Experience is a global health, wellness, and beauty platform serving over 1.38 million customers. The company offers a range of ayurveda-inspired brands, including skincare, body care, hair care products, wellness supplements, and functional foods in select markets. TAE recently raised $27 million in a Series C funding round led by Jungle Ventures, with participation from SIDBI Ventures, Anicut Capital, and Sharrp Ventures. This funding round brings the total amount raised by the company to over $41 million. In FY23, The Ayurveda Experience’s revenue from operations grew 84% to Rs 259 crore from Rs 141 crore in FY22, according to startup data intelligence platform TheKredible. The growth in scale and controlled expenditure may help the company break even or turn profitable in FY24 as its losses declined 30% to Rs 17 crore in FY23 from Rs 24 crore in FY22. Kalpavriksh Fund manages assets worth approximately Rs 90 crore, specializing in growth-stage investments in the food, agribusiness, sustainability, and affiliated tech sectors in India. The fund’s portfolio includes BluSmart, Dunzo, The Label Life and Littlemore Innovations, among others.

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The Ayurveda Experience raises $27 Mn in Series C led by Jungle Ventures

EntrackrEntrackr · 1y ago
The Ayurveda Experience raises $27 Mn in Series C led by Jungle Ventures
Medial

The Ayurveda Experience (TAE), a direct-to-consumer skincare and nutrition brand, has raised $27 million in a Series C round led by Jungle Ventures, a Singapore-based VC firm focussed on early-growth stage companies in India and Southeast Asia. The financing round also saw participation from SIDBI Ventures, Anicut Capital and Sharrp Ventures (Mariwala Family Office), pushing the total amount raised by the company to over $41 million. The Ayurveda Experience plans to use the new funds to further deepen its brand presence, ramp up customer engagement, invest in product R&D and scale new avenues for distribution, the company said in a press release. Founded by Rishabh Chopra in 2010, The Ayurveda Experience offers ayurveda-inspired skincare and wellness products, foods, beverages, and supplements. The firm owns four lines of beauty and health products: iYURA, Ajara, A Modernica Naturalist, and Ayuttva — which it manufactures, sells and distributes on its platform. They also offer a range of services including consultation, content, webinars, and courses on ayurveda. Currently, The Ayurveda Experience sells products in 20 countries including India, with over 97% of its customers purchasing the products directly from its own app and website. The company claims that it is the largest D2C Ayurveda content and products company in North America, Europe, Canada, Australia, and India. For the fiscal year ending in March 2023, The Ayurveda Experience’s revenue from operations grew 84% to Rs 259 crore from Rs 141 crore in FY22, according to startup data intelligence platform TheKredible. The growth in scale and controlled expenditure may help the company break even or turn profitable in FY24 as its losses declined 30% to Rs 17 crore in FY23 from Rs 24 crore in FY22. As of Series B round, Fireside Ventures was the largest external stakeholder in The Ayurveda Experience with 17.81% followed by Kalpavriksh Trust and Anicut Capital. The company’s founder, Chopra, held more than 30% stake. Check TheKredible for more details.

Ex-IFC executive Sayan Ghosh launches Rs 300 Cr OG Capital fund

EntrackrEntrackr · 8m ago
Ex-IFC executive Sayan Ghosh launches Rs 300 Cr OG Capital fund
Medial

Ortella Global Capital (OG Capital) has announced the launch of its Rs 300 crore ($36 million) venture capital fund. The firm positions itself as India’s first and only VC fund dedicated to co-building companies in partnership with founders. OG Capital adopts a co-building model, offering funding and hands-on support to help startups grow and scale into potential unicorns. The fund plans to invest in over 20 companies, up to Rs 15 crore ($2 million) each, and has already backed three promising startups. It aims to deliver a 50% CAGR, targeting 10X returns for its investors. According to the VC firm, it will target early and growth-stage startups across consumer and enterprise solutions. “We are not only targeting 10x returns for our investors but are also co-building companies that prioritize grassroots-level impact, sustainability, and gender diversity,” said Sayan Ghosh, managing partner of OG Capital. Ghosh brings over a decade of experience as an entrepreneur, investment banker, and investor. During his more than three-years tenure at the World Bank, he was instrumental in driving investments and exits for companies like Lenskart, upGrad, 1mg, and BigBasket. According to a press release, Ghosh has a track record of delivering exits worth more than Rs 1,500 crore ($200 million) at a 40% CAGR. In addition, as a limited partner, he has deployed Rs 2,500 crore ($300 million) after evaluating over 350 funds, including venture capital, growth equity, private equity, and venture debt funds across India.

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