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Kalpavriksh Fund exits The Ayurveda Experience with over 6x returns

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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.