Kalpavriksh Fund, a venture capital fund managed by Acorn Fund Consultants, has announced that it has exited its long-term investment in The Ayurveda Experience (TAE) at a more than six-fold return.
Kalpavriksh Fund invested in TAE in 2018 as part of its Series A funding and subsequently participated in multiple follow-on rounds. In 2023, Kalpavriksh Fund was acquired by Prowess Advisors, a global pioneer in food and agribusiness 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 across skin care, body care, hair care products, wellness supplements and functional foods in select markets.
TAE has recently $27 million The Series C funding round was led by Jungle Ventures, with participation from SIDBI Ventures, Anicut Capital and Sharrp Ventures, bringing the company’s total funding to over $41 million.
In FY23, Ayurveda Experience’s operating revenue was 84% increase According to the startup data intelligence platform, GDP increased from Rs 14.1 lakh crore to Rs 25.9 lakh crore in FY22. CredibleIncreased scale and expense controls could help the company breakeven or turn profitable in FY24. The company’s losses fell 30% to Rs 170 crore in FY23 from Rs 240 crore in FY22.
Kalpavriksh Fund focuses on growth stage investments in the food, agribusiness, sustainability and related technology sectors in India and has assets under management worth approximately INR 900 crore. The fund’s portfolio includes BluSmart, Dunzo, The Label Life and Littlemore Innovations among others.
