 "The Ayurveda Experience secures $27 mn in funding led by Jungle Ventures")
Singapore-based venture capital firm Jungle Ventures has led a $27 million series C funding round in direct-to-consumer brand The Ayurveda Experience (TAE), a company focusing on Ayurvedic products.
The new investment, which saw participation from SIDBI Ventures, Anicut Capital and Sharrp Ventures (Mariwala Family Office), has pushed the total amount raised by TAE to over $41 million (Rs 342 crore). Previous rounds saw backing from investors like Fireside Ventures and Riverwalk Holdings.
The company plans to use the new funds to further deepen its brand presence and recognition in existing markets. The funds would also help it ramp up customer engagement on its platform, invest in product research and development (R&D) and scale new avenues for distribution.
“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 Rishabh Chopra, founder and CEO of TAE.
Founded by Chopra in 2010, TAE is the largest direct-to-consumer (D2C) Ayurveda content and products company 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, sells and distributes on its platform. It also offers a range of services including consultation, content, webinars, and courses on Ayurveda.
It actively sells products in 20 countries including India. Over 97 per cent of its customers purchase the products directly from its app and website. Over the past decade, TAE has strategically optimised for product-market fit, cultural nuances, supply chain and logistics to scaling digitally in global markets while maintaining the majority of its operations in India. The company attributes its growth to the widening of reach through new products and markets, as well as optimising its 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.