Global D2C Ayurveda brand, The Ayurveda Experience has secured USD 27 million (about Rs 224 crore) funding from a clutch of investors led by Singapore-based Jungle Ventures, a statement said on Friday.
The company will use the funds to deepen its brand presence and recognition in existing markets, ramp up customer engagement on its platform, invest into product R&D and scale new avenues for distribution, it said.
SIDBI Ventures, Anicut Capital and Sharrp Ventures (Mariwala Family Office) also participated in the Series C round of funding, the statement added.
Total funding zooms to USD 41 million
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With this capital infusion, the total funding secured by the company since its inception in 2010 stands at over USD 41 million.
The previous rounds were backed by investors, including Fireside Ventures and Riverwalk Holdings.
Founded by Rishabh Chopra, The Ayurveda Experience (TAE) is an Ayurveda content and products company with business in North America, Europe, Canada, Australia, and India.
It owns four lines of beauty and health products-- iYURA, Ajara, A Modernica Naturalis, and Ayuttva, which it manufactures, and sells and distributes on its platform.
Focus on R&D
It also offers a range of services including consultation, content, webinars, and courses on Ayurveda.
"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 Chopra, the founder and CEO of TAE.
TAE actively sells products in 20 countries including India, as per the statement.
The company attributes its growth to widening of reach through new products and markets as well as optimising its direct-to-consumer (D2C) distribution format.
"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," said Arpit Beri, Partner at Jungle Ventures.
Jungle Ventures is focused on early to growth-stage companies in Southeast Asia and India, with a focus on building long lasting businesses, as per the statement.
