Centrum Invests INR 15 Cr In Dunzo, The Ayurveda Experience

Centrum, through its private equity fund, Kalpavriksh, has invested INR 15 Cr ($2.1 Mn) in two startups, The Ayurveda Experience and Dunzo. Kalpavriksh is Centrum’s maiden PE fund under Centrum Alternatives LLP, which invests in high growth unlisted companies in consumer, education, technology, healthcare and wellness sectors. Centrum has invested INR 10 Cr in The Ayurveda Experience and INR 5 Cr in Dunzo.

Giri Krishnaswamy, CIO of Kalpavriksh Fund said, “We continue to back niche businesses that have built a distinct business model, created brand equity and have the potential to scale up rapidly.

Some of Kalpavriksh Fund’s earlier investments are – The HEAL Institute, The Label Life and Littlemore Innovation Labs.

The Ayurveda Experience

Delhi-based online Ayurveda content and products company, The Ayurveda Experience, is engaged in the manufacture, sales and distribution of Ayurvedic products in India and globally. Through its brands, iYURA and Ajara, the company sells healthcare, personal care and Ayurvedic nutrition products in 5 countries.

The Ayurveda Experience also offers a list of 23 specialised courses in Yoga and Ayurveda ranging from Pulse reading to sleep to meditation. The company also gives treatment to weight issues and mental health issues. The parent company of The Ayurveda Experience is Transformative Learning Solutions, founded by Rishabh Chopra in 2010.

The company is looking to scale up its research and development facility to further strengthen its product portfolio and increase its geographic reach. As part of the agreement, Giri Krishnaswamy, CIO Kalpavriksh Fund will join the company’s board.

Dunzo

Dunzo is a mobile app-based, concierge services provider that connects consumers with its delivery partners. The partners perform tasks such as local grocery shopping, food delivery, arranging medical supplies, etc and deliver them to the consumer’s residence for a fee.

Dunzo has served approximately 1 Mn orders in March 2019 and will use the funds to expand operations in Pune, Chennai, Hyderabad, Delhi & Gurgaon. The Bengaluru-based company was founded by Ankur Aggarwal, Dalvir Suri, Mukund Jha, and Kabeer Biswas in 2015.

The company had raised $422K (INR 3 Cr) from MakeMyTrip’s Deep Kalra and $3.1 Mn (INR 22.49 Cr) Series C funding round from a group of prolific investors in February 2019.  Dunzo, is also reportedly in talks to raise a fresh round of funding for about $50 Mn.

Anshul Agarwal, executive director, Kalpavriksh Fund said, “We believe that Dunzo’s focus on cost-efficient logistics services by managing capacity utilisation throughout the day, will enable it to obtain a competitive edge in the hyperlocal services market.”

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.