Ayurveda Experience (TAE), an Indian D2C brand, announced on Friday that it has raised $27 million in a Series C funding round led by Singapore-based early growth stage VC Jungle Ventures.
SIDBI Ventures, Anicut Capital, and Sharp Ventures (Mariwala Family Office) also participated in this funding round, which brought the company’s total funding to $41 million. The previous round had backing from investors including Fireside Ventures and Riverwalk Holdings.
Founded in 2010, TAE owns four beauty and health products – iYURA, Ajara, A Modernica Naturalkis and Ayuttva – and sells and distributes them on platforms in 20 countries.
The company plans to use the funds to increase its brand presence and awareness in existing markets, strengthen customer engagement on its platform, and invest in research and development to expand new distribution channels.
Rishabh Chopra, Founder and CEO of Ayurveda Experience, said: “To strengthen user engagement across our platforms and drive innovation across the supply chain, we are creating innovative content and There will be a lot of investment in technology.”
Last year, Jungle Ventures also invested in NirogStreet, a Delhi-based platform that strives to make Ayurveda a primary source of treatment for people in India.
The Indian government has taken several steps to promote Ayurveda. These include setting up Central Council for Research in Ayurvedic Medicine (CCRAS) and National Institutes of Ayurveda in various parts of the country. Integration of AYUSH and modern medical system. Signed a memorandum of understanding with the Ministry of Railways and the Ministry of Defense. and mainstreaming of AYUSH, including Ayurveda, by setting up health and wellness centers under the Ayushman Bharat Yojana.
Other notable investments in the space in the past few months include Ayurveda’s Rs 100-crore Series A round from Six Sense Ventures and Gynoveda’s Series A funding of Rs 1000 led by India Alternatives Fund. Includes $1,000,000.
HempStreet, a cannabis-focused health tech startup, has raised $1 million in a pre-Series A funding round led by existing investor Carl Waahlin of Wahlin Holdings.
