The Ayurveda Experience (TAE), a global direct-to-consumer Ayurveda brand, has raised $27 million in a funding round led by Singapore-based venture capital firm Jungle Ventures.
Also read: Startups need to explore potential of Ayush sector: Union Minister Sonowal
Other investors participating in the round include SIDBI Ventures, Anicut Capital and Sharrp Ventures (part of the Mariwala Family Office, which also runs consumer goods giant Marico).
The new investment brings the company’s total funding to over $41 million, after previous rounds were backed by investors including Fireside Ventures and Riverwalk Holdings.
Founded by Rishabh Chopra in 2010, TAE is the largest direct-to-consumer Ayurvedic content and products company in North America, Europe, Canada, Australia and India. The company owns four beauty and wellness product lines – iYURA, Ajara, A Modernica Naturalis and Ayuttva – which it manufactures, sells and distributes through its own platform. It also offers a range of services including Ayurvedic consulting, content, webinars and courses.
The company sells its products in 20 countries, including India, and claims that over 97% of its customers purchase Ayurveda Experiences products directly through its app or website.
“We are honoured to have partners such as Jungle Ventures, Sidhvi Ventures, Anicut Capital and the Mariwala family invest in this round and are also grateful to both new and existing shareholders for the support and confidence they have shown. These funds will be leveraged to further strengthen the Group’s R&D, supply chain and manufacturing capabilities and to explore and expand new avenues of distribution. Significant investments will be directed towards innovative content and technology to enhance user engagement across platforms and drive innovation across the supply chain. We are focused on optimising the fundamentals of our business with a long-term perspective to build a robust and sustainable business,” said Rishabh Chopra, Founder & CEO, Ayurveda Experience.
