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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.

Kalpavriksh Fund exits The Ayurveda Experience with over 6x returns

EntrackrEntrackr · 12m 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.

Exclusive: Kapiva raises $10 Mn from existing investors

EntrackrEntrackr · 9m ago
Exclusive: Kapiva raises $10 Mn from existing investors
Medial

Homegrown D2C ayurvedic nutrition brand Kapiva has raised Rs 83.5 crore (approximately $10 million) led by OrbiMed Asia with the participation of 3One4 Capital and Vertex Ventures. The board at Kapiva has passed a special resolution to issue 5,62,631 compulsory convertible preference shares to raise the aforementioned sum, its regulatory filing sourced from the Registrar of Companies shows. OrbiMed Asia led the round with Rs 52.2 crore, while 3One4 Capital and Vertex Ventures participated with Rs 11.96 crore and Rs 19.33 crore, respectively. The fresh funding appears to be part of Kapiva’s Series C round, in which the firm is aiming to raise a total of Rs 250 crore. Entrackr exclusively reported about Kapiva’s Series C round in Nov 2022. With the fresh tranche, the firm has raised Rs 132 crore in the ongoing round. It had already raised Rs 48.75 crore ($6 million) in Series C from OrbiMed and other existing investors back in October 2022. Kapiva has also increased its ESOP size by adding 1,415,00 new employee stock, bringing the total ESOP pool to 4,47,741, separate filing shows. As per the Entrackr estimates, its ESOP pool size is now worth Rs 66 crore. Kapiva will use these funds for the expansion and development of the company. Kaviva has raised over $30 million to date and has notable investors including Jetty Ventures, Fireside, OrbiMed, 3One4Capital, and others. According to the startup data intelligence platform TheKredible, the company has been valued at around $80 million post-allotment. Founded in 2015, Kapiva is an ayurvedic nutrition brand that offers natural and organic health and skincare products for hair fall, weight loss, digestion, diabetes in the form of juices, tea, oils, shakes et al. During the fiscal year ended March 2023, Kaviva registered 87% year-on-year growth to Rs 116.48 crore with a loss standing at Rs 64.5 crore in the same period. Kapiva is yet to file its annual results for FY24. While the D2C ayurveda space is crowded with plenty of organized brands, Upakarma Ayurveda, and Dr. Vaidya’s, Varalife, among others are Kapiva’s notable competitors.

Ice cream brand Go Zero raises $1.5 Mn

EntrackrEntrackr · 1y ago
Ice cream brand Go Zero raises $1.5 Mn
Medial

Ice cream brand Go Zero has raised $1.5 million in its follow-on pre-Series A funding round from DSG Consumer Partners, Saama, and V3 Ventures, among others. The round also saw participation from notable angel investors such as Arjun Purkayastha. Earlier in August last year, the startup had raised $1 million in its pre-Series A funding round led by DSG Consumer Partners, Saama, and V3 Ventures. Founded by Kiran Shah, Go Zero has a diversified product portfolio featuring low-calorie, high-protein, and vegan ice creams. The startup claims that all its products are sweetened with plant-based sweeteners, which are low in calories. Currently present in 16 cities and over 125 dark stores, Go Zero ice cream brand is available on both quick commerce and e-commerce platforms in less than two years of launch. In FY24, Go Zero claims to have grown 4X compared to FY23 and while it saw 7X growth on quick commerce in just 5 months this summer. Go Zero competes with Hocco and NIC. Last year, NIC had raised $11 million in a growth funding round led by Jungle Ventures whereas Hocco recently raised $12 million from Chona family and others.

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