The Ayurveda Experience (TAE), a direct-to-consumer company specialising in Ayurvedic beauty and wellness goods, raised USD 27 million in a fundraising round headed by Singapore-based venture capital firm Jungle Ventures.
Investors in the round included SIDBI Ventures, Anicut Capital and Sharrp Ventures (part of the Mariwala Family Office, which operates the consumer products company Marico). Of the USD 27 million, around USD 15 million came from primary funding, with the proceeds going to the firm, while the remainder was used for secondary share sales by existing owners.
The corporation did not reveal the valuation at which it raised the funds. With this round, the business has raised a total of USD 41 million, with Fireside Ventures among the early investors. Rishabh Chopra, the founder and CEO, is the largest stakeholder, owning around 25 per cent, followed by Jungle Ventures and Fireside Ventures.
“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… At Jungle, we remain deeply committed to backing founders building brands deeply loved by the customers, and TAE fits very well into this,” said Arpit Beri, partner at Jungle Ventures.
The company has four brands of beauty and wellness products: iYURA, Ajara, A Modernica Naturalist, and Ayuttva, which it makes, sells and distributes through its platform. It also provides a variety of services, including consultancy, material, webinars, and Ayurvedic courses. According to Chopra, the firm’s website accounts for more than 95 per cent of its revenues. The firm would continue to invest in its website, he stated, adding, “We do not rely on channels like Amazon.”
The company now has two storefronts in Los Angeles and collaborates with numerous merchants throughout its regions.
