Kalpavriksh Fund announced exit from The Ayurveda Experience with over 6x returns
With more than six times returns, the Acorn Fund Consultants-managed venture capital fund Kalpavriksh Fund has announced its withdrawal from its long-term investment in The Ayurveda Experience (TAE).
In 2018, as part of TAE’s Series A fundraising, Kalpavriksh Fund made an investment in the company and went on to participate in several follow-on rounds. The world leader in food and agribusiness advisory services, Prowess Advisors, purchased Kalpavriksh Fund in 2023.
Over 1.38 million people use The Ayurveda Experience, a global platform for health, wellness, and beauty that Rishabh Chopra founded. The company provides a variety of ayurvedic-inspired brands in some markets, such as skincare, body care, hair care, wellness supplements, and functional foods.
Recently, TAE raised $27 million in a Series C funding round led by Anicut Capital, Sharrp Ventures, SIDBI Ventures, and Jungle Ventures. The company has raised over $41 million in total as a result of this funding round.
The Ayurveda Experience’s operating revenue increased to Rs 259 crore in FY23 from Rs 141 crore in FY22, an 84% increase, as reported by the media. Since the company’s losses decreased by 30% to Rs 17 crore in FY23 from Rs 24 crore in FY22, its growth in scale and prudent spending may help it break even or become profitable in FY24.
With an approximate asset value of Rs 90 crore, Kalpavriksh Fund focuses on growth-stage investments in India’s food, agribusiness, sustainability, and related technology sectors. BluSmart, Dunzo, The Label Life, and Littlemore Innovations are a few of the companies in the fund’s portfolio.
