Investors like Fireside Ventures, Vertex Ventures and 3one4 Capital may also join the cap table in the fundraise
Founded in 2016, Kapiva’s ayurvedic nutrition products include ayurvedic juices and other consumables, gummies, capsules, hair oil and shampoos
The Bengaluru-based startup has raised around $41.1 Mn in total funding so far
Amid competition heating up in the direct to consumer (D2C) space, ayurvedic nutrition brand Kapiva
is reportedly looking for an internal funding round of INR 300-330 Cr (around $40 Mn) to be led by existing investor OrbiMed to expand its operations and enhance market presence.
However, a source close to the matter told Inc42 that the round will comparatively be smaller than reported.
Investors like Fireside Ventures, Vertex Ventures and 3one4 Capital may also join the cap table in the fundraise.
“As a company, we are excited about our growth trajectory and expansion plans. In line with this, we have raised an internal round with participation from existing investors, though the scale of the round has been misrepresented. We remain committed to our mission of making Ayurveda accessible to every household and are grateful for the confidence that our investors show in us,” a Kapiva spokesperson told Inc42.
Founded in 2016, Kapiva’s ayurvedic nutrition products include ayurvedic juices and other consumables, gummies, capsules, hair oil and shampoos. It has more than 100 SKUs. The startup also enables consultation with Ayurvedic doctors.
The Bengaluru-based startup has raised around $41.1 Mn in total funding so far.
Meanwhile the company’s current annual recurring revenue (ARR) is INR 350 Cr, while its FY24 revenue stands at INR 229 Cr.
Kapiva‘s loss widened 34% to INR 64.6 Cr in FY23 from INR 48.2 Cr in the previous fiscal year as the startup’s expenses shot up in line with its growing business.
The company’s total revenue, including interest income, stood at INR 116.5 Cr in FY23 as against INR 62.4 Cr in the previous year.
In the Ayurveda space, the startup competes with the likes of Cureveda, Rasayanam, Dr. Vaidya’s, among others.
It is pertinent to mention that the market size of Indian ayurvedic products is expected to reach about INR 3.21 Lakh Cr by 2032, growing at a CAGR of 17% from 2024.
