Mumbai-based Ayurveda wellness and lifestyle consumer brand Aadar has raised an undisclosed seed funding in a round led by Sprout Venture Partners and few angel investors from LetsVenture.
JITO Angel Network (JAN) also participated in this funding round. Moreover, former CEO of VLCC, Syed Safawi, is also an investor of Aadar. The wellness and lifestyle brand Aadar will use this funding to strengthen its footprint and product line.
Aadil Shah, CEO and founder of Aadar, in a press statement, said, “We see our brand being easily absorbed into our consumer’s daily lifestyle. We remain relevant to our audience by providing well-researched & highly effective products; which can be consumed safely on an everyday basis.”
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Therefore, the company has decided to give special attention to transparency around its products to gain more and more consumer trust. Furthermore, the company plans to remain in the direct-to-consumer segment and will stay focused on its predominantly digital distribution strategy.
Founded in 2018 by IIT Bombay alumnus Shah and former investment banker Pratul Mangal, Aadar is an ayurvedic brand that is focused on developing products for common but chronic ailments and other lifestyle segments. Aadar’s catalogue includes herb-based products for ailments like protein deficiencies, blood sugar, indigestion, cholesterol, and obesity, among others.
Besides Aadar, some other startups working in the ayurvedic segment include Kapiva Ayurveda, &Me, and Gynoveda, among others. In January of last year, Kapiva Ayurveda, received a funding commitment of $2.3 Mn (INR 17 Cr) from several investors. The investors included early-stage investment firms, Fireside Ventures and Mohandas Pai’s family office.
Kapiva’s existing investors chief strategy officer at OYO Hotels and Homes Maninder Gulati, and chief strategist at Reliance Capital Madhusudan Kela, along with few others also participated in the round.
Just like Aadar, Kapiva Ayurveda is also into health and wellness products and has a portfolio of over 40 Ayurvedic food products. The startup is present in over 4000 outlets in 10 cities across India, along with some other offline channels in India and the US. Kapiva products are also available across all major online channels such as Amazon and BigBasket.
Meanwhile, Gynoveda is a women’s wellness brand that makes ayurvedic products for menstrual health. The company raised investment from early-stage venture capital firm Fireside Ventures, in November 2019.