Ayurveda Experience, a direct-to-consumer (D2C) brand operated by Transformative Learning Solutions Pvt Ltd, on Friday announced that it has completed a $27 million (Rs. 223 million) Series C funding round.
The round was led by Singapore-based Jungle Ventures. SIDBI Ventures and existing investors Anicut Capital and his Sharrp Ventures, the family office of Harsh Mariwala of Marico, also participated in the round.
This round was a combination of a primary investment and a secondary share sale. The exact division of primary and secondary components is not clear.
With this injection, the startup has raised approximately $41 million to date.
In January 2023, VCCircle reported that the startup was in talks with investors to raise $25 million to $30 million in equity funding and was seeking a valuation of approximately $125 million to $130 million in the deal. It was reported that
The company plans to use the new funding to expand its brand presence in existing markets, improve customer engagement on its platform, invest in product research and development (R&D), and expand new distribution channels.
Ayurveda Experience is a Gurugram-based Ayurvedic health and wellness platform founded in 2010 by Rishabh Chopra.
The company has locations in North America, Europe, Canada, Australia, and India, and owns four beauty and health product lines: iYURA, Ajara, A Modernica Naturalist, and Ayuttva, which are manufactured, sold, and distributed on its platform. I am. We also offer a wide range of Ayurvedic consulting, content, webinars, and courses.
In 2022, the brand raised 50 billion rupees (approximately $6 million) in a funding round led by Anicut Capital. Sharp Ventures and Singularity Ventures also participated in the round. Other investors include Fireside Ventures, Centrum Group’s The Kalpvriksh Fund, Riverwalk Ventures, and Emerge Capital.
Meanwhile, this is Jungle Ventures’ second investment in the consumer space in the past month. In February, the company strengthened its partnership with Indian ice cream maker Walkoo Food. A corporation that operates the ice cream brand “NIC.” The company has invested $20 million (Rs 166 million) in the brand.
Jungle Ventures was founded by Amit Anand and Anurag Srivastava. The company secured $10 million in debut funding in 2012. It raised $100 million for its second fund in 2016 and $240 million for its third fund in 2019. The company closed its fourth fund in May 2022, raising $600 million more than before. The initial target corpus was $350 million.
The company’s Indian portfolio includes insurtech platform Turtlemint, edtech company Leap, blue-collar workforce management company Better Place, social commerce platform City Mall, and consumer electronics startup Atomberg.
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