SUMMARY
The funding round was led by Jungle Ventures and also saw participation from SIDBI Ventures, Anicut Capital and Sharrp Ventures (Mariwala Family Office)
The fresh proceeds will be used to further deepen The Ayurveda Experience’s brand presence, shore up customer engagement, and ramp up product R&D
Founded in 2010, the D2C brand sells ayurvedic beauty products such as hair oils, moisturisers, lotions, creams, and scrubs
D2C startup The Ayurveda Experience (TAE) has raised $27 Mn (INR 223 Cr) in its Series C funding round led by Singapore-based venture capital (VC) firm Jungle Ventures. The round also saw participation from SIDBI Ventures, Anicut Capital and Sharrp Ventures (Mariwala Family Office).
The startup plans to use the fresh proceeds to deepen its brand presence in existing markets and shore up customer engagement on its platform. A part of the capital will also be utilised to ramp up product development and explore new distribution strategies.
“These funds will be deployed to further fortify the group’s R&D, supply chain and manufacturing strength, explore and scale newer avenues for distribution,” said TAE founder and CEO Rishabh Chopra.
Founded in 2010 by Chopra, TAE sells a full suite of ayurvedic offerings on its platform. It manufactures and sells beauty products such as hair oils, moisturisers, lotions, creams, and scrubs. It also offers a range of services such as consultations, content, webinars, and courses on ayurveda.
Commenting on the fundraise, Jungle Ventures partner Arpit Beri said, “We’re delighted to partner with Rishabh and the team at The Ayurveda Experience… At Jungle, we remain deeply committed to backing founders building brands deeply loved by the customers, and TAE fits very well into this.”
TAE also counts the likes of Fireside Ventures and Riverwalk Holdings among its backers. It last raised $6 Mn in a funding round in November 2022.
Following the latest fundraise, the total funding raised by TAE till date stands at $41 Mn (INR 342 Cr).
The startup claims to have catered to 13.8 Lakh customers so far and sells products in more than 20 countries, including India. It claims that more than 97% of its customers purchase its products directly from its own app and website.
The Gurugram-based D2C brand has a team of more than 220 employees spread across the globe.
It competes with the likes of The Ayurveda Co., Kapiva, and Alphavedic in the country’s growing ayurvedic products market, which is projected to grow to a size of INR 3.2 Lakh Cr by 2032
The fundraise comes in the middle of a funding winter that has dried up capital for Indian startups. The ecommerce sector, especially the D2C space, has also been hit by wary investors tightening their purse strings. To put things in perspective, Indian D2C brands raised $1.4 Bn in 2023 against $1.9 Bn in 2022.
However, the space has been seeing some funding deals in recent times. Last week, D2C luggage startup Mokobara secured $12 Mn in a funding round led by Peak XV Partners at a valuation of $80 Mn. Prior to that, D2C food brand Yu also bagged INR 20 Cr in its Series A funding round led by angel investor Ashish Kacholia and Asian Paints Promoter Group.
