NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others

NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others

SUMMARY

The funds acquired will be deployed by the company towards strengthening technology offering for the doctors and starting operations in more states

NorogStreet is a social commerce platform that provides access to Ayurveda doctors on a global scale to implement practices and deliver Ayurveda healthcare

The Ayurveda market in India was valued at INR 30K Cr in 2018 and is expected to reach INR 71K Cr by 2024, growing at a CAGR of 16.06% during the forecast period

Ayurveda Doctor platform NirogStreet has secured $2.5 Mn in Series A Funding. The funding was raised from Gokul Rajaram of Pureland Venture, Raj Mishra of Indea Capital,  former CEO of Morgan Stanley Ashutosh Sinha , founder of Livspace Anuj Srivastava, founder of Smart Chip Limited Sanjeev Shriya among many other names . 

The funds acquired will be deployed by the company towards strengthening technology offering for the doctors and starting operations in more states.

The company was founded by Ram Kumar in 2016. NirogStreet is a social commerce platform that provides access to Ayurveda doctors on a global scale to implement practices and deliver Ayurveda healthcare. Additionally, it is also working towards creating easy access to high quality medicines, avenues for income generation for doctors and also helping SME medicine manufactures to reach out to a larger base of doctors.

The healthtech Ayurveda startup stated that currently it is offering its services to 50,000 doctors on its peer-to-peer learning, electronic health record and B2B ecommerce platform. The company has plans to partner with over 150 Ayurvedic medicine manufacturers and brands in the next one year to provide the medicines to the patients.

Ram N Kumar, founder, NirogStreet said, “Ayurveda has demonstrated its leadership in the time of Covid-19 and we played an important role in making Ayurveda mainstream. The focus of NirogStreet is to create tech-oriented data and solutions to create better opportunities for both doctors, manufacture and customers. Ayurveda has immense potential in helping bring India on the healthcare map of the world as its leader. As a B2B2C technology enabled and doctor led platform, we are consistently focusing on identifying best practices to improve the supply chain of Ayurvedic services and medicine, giving Ayurveda its due share and the recognition that it deserves by empowering those at the center of this universe – Ayurveda doctors – to create an experience that patients can trust.”

“The recent investment will be employed to strengthen the technology platform and strengthen the offering to the Ayurveda doctors and clinics. Ayurveda has been vulnerable to the problem of substandard medicines and very low digital adoption and NirogStreet, from the very beginning, has directed its efforts towards eliminating this problem,” he added. 

The Covid19 pandemic accelerated the growth of the Ayurveda industry in India as users were looking for additional remedies to boost immunity and keep away from illnesses. Due to this, several companies have ventured into the Ayurveda space and these companies have slowly started to attract investors’ interest. For instance, recently, The Ayurveda Company raised an undisclosed amount in various rounds of funding from GetVantage, Velocity, and Shiprocket Capital through revenue-based financing. Other popular Indian names in the sector include Durmeric and recently acquired Apkos Naturals.

According to Research and Markets, an Ireland-based market research organisation, the Ayurveda market in India was valued at INR 30K Cr in 2018 and is expected to reach INR 71K Cr by 2024, growing at a CAGR of 16.06% during the forecast period.

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

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others-Inc42 Media
NirogStreet Raises $2.5 Mn Funding From Pureland Venture, Others-Inc42 Media
You’re in Good company