D2C skincare and nutrition brand The Ayurveda Experience has raised $6 million in a funding round led by Anicut Capital, along with the participation from Mariwala Family office Sharrp Ventures and Singularity Ventures.
So far, the startup has raised Rs 105 crore of primary capital, in addition to approximately Rs 30 crore of secondary shares being purchased by investors over the years.
According to the founder Rishabh Chopra, the startup plans to use the raised capital to expand into new geographies, expand its base in the existing markets, R&D (research and development), supply chain and manufacturing strength.
Founded in 2010, The Ayurveda Experience is a skincare and nutrition brand that offers products in the segments, including skincare, body care, personal care, food & beverages, among others, through brands including iYURA, Ajara, Ayuttva.
The brand claims to have a customer base of around 840,000 customers through its geographical presence in North America, Europe, Australia, and India. It also claims to have an annualised revenue run rate of over Rs 280 crore.
In October 2022, the startup opened its first Offline Store in the USA in Torrance, Los Angeles. The Ayurveda Experience said it aims to grow at a CAGR of 46% in the next 5 years and has already achieved more than Rs 235 crore of revenue in the last 12 months.
Dhruv Kapoor, Partner at Anicut Capital, said, “We would like to congratulate Rishabh and team for the fundraise. Anicut Capital is happy to be part of this unique journey. The Ayurveda Experience is one of the main players will surely make leaps in success with the team they have and this fundraise will help them to reach the deeper markets of the country. We look forward to seeing them complete their next set of goals and showcasing their true potential.”
Source @Indianstartupnews
