The Ayurveda Experience raises $27 million led by Jungle Ventures
Bengaluru: The Ayurveda Experience (TAE), a direct-to-consumer (D2C) startup focussing on Ayurvedic products, on Friday, said it has raised $27 million in its series C funding round, led by Singapore-based Jungle Ventures. Last month, Mint was the first to report that the company is looking to secure additional funds.
SIDBI Ventures, Anicut Capital, and Sharrp Ventures, part of the Mariwala Family Office, also participated in the round.
TAE plans to use the funds to deepen its presence in existing markets, improve customer engagement on its platform, ramp up product R&D, and scale new avenues for distribution, according to a company statement.
“We are focused towards optimizing the fundamentals of the business with a long-term view to build a sturdy, sustainable business,” founder and chief executive of TAE, Rishabh Chopra, said in the statement.
With the latest round, TAE has so far raised a total of $41 million, as per the release. Early investors in the company include Fireside Ventures and Riverwalk Holdings.
Founded in 2010, TAE operates across North America, Europe, Canada, Australia, and India. It offers a variety of Ayurvedic products through four proprietary lines: iYURA, Ajara, A Modernica Naturalist, and Ayuttva. These products are manufactured, sold, and distributed via its platform, along with a range of services including consultations, content, webinars, and courses on Ayurveda.
The company claims to have a global sales footprint in 20 countries, including India, with over 97% of its sales coming directly from its app and website.
“As India continues to assert itself on the global stage, a distinctive opportunity arises for our entrepreneurs to establish global brands with uniquely Indian flavours. The remarkable accomplishments of TAE’s team, achieving a sizable scale with minimal resources are truly commendable,” Arpit Beri, partner at Jungle Ventures.
Jungle Ventures focuses on early to growth stage investments and has operations in India and Southeast Asia. Some of its portfolio companies include Moglix, Livspace, Builder.ai, Atomberg.
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Published: 08 Mar 2024, 11:40 AM IST
Ganesh
http://ganesh@finplay.inFinance enthusiast, Mutual fund expert.