BENGALURU: Ayurveda Experience (TAE), a direct-to-consumer startup focused on Ayurvedic products, on Friday said it has raised $27 million in a Series C funding round led by Singapore’s Jungle Ventures. mint We first reported that the company was looking to secure additional funding.
SIDBI Ventures, Anicut Capital and Sharrp Ventures under the Mariwala Family Office also participated in the round.
According to a company statement, TAE plans to use the funds to expand its presence in existing markets, improve customer engagement on its platform, strengthen product research and development, and expand into new distribution channels.
“We are focused on optimizing our business fundamentals for the long term to build a strong, sustainable business,” TAE founder and CEO Rishabh Chopra said in a statement.
The latest round brings TAE’s total funding to date to $41 million, according to a press release. The company’s early investors include Fireside Ventures and Riverwalk Holdings.
Founded in 2010, TAE operates across North America, Europe, Canada, Australia and India. It offers a range of Ayurvedic products through four proprietary lines: iYURA, Ajara, A Modernica Naturalist and Ayuttva. These products are manufactured, sold and distributed through the company’s platform, and the company also offers a range of services including Ayurvedic consulting, content, webinars and courses.
The company has a global sales presence in 20 countries, including India, and claims that over 97% of its sales are generated directly from its app and website.
“As India continues to assert its presence on the global stage, an immense opportunity is emerging for Indian entrepreneurs to build global brands with a uniquely Indian flavour. The TAE team has done an incredible job achieving massive scale with minimal resources and deserves to be commended,” said Arpit Beri, Partner, Jungle Ventures.
Jungle Ventures focuses on early to growth stage investments and operates across India and Southeast Asia. Portfolio companies include Moglix, Livspace, Builder.ai and Atomberg.
