The Ayurveda Experience raised $27 M Series C funding from Jungle Ventures
Direct-to-consumer skincare and nutrition brand The Ayurveda Experience (TAE) has raised $27 million in a Series C round led by Singapore-based VC firm Jungle Ventures, which focuses on early-growth stage companies in India and Southeast Asia.
SIDBI Ventures, Anicut Capital, and Sharrp Ventures (Mariwala Family Office) also participated in the financing round, bringing the total amount raised by the company to over $41 million.
According to a press release from the company, The Ayurveda Experience intends to use the additional funding to expand new distribution channels, increase customer engagement, invest in product R&D, and strengthen its brand presence.
The Ayurveda Experience, established in 2010 by Rishabh Chopra, provides Ayurvedic-inspired foods, drinks, supplements, skincare, and wellness products.
The company manufactures, distributes, and sells four lines of beauty and health products on its platform: iYURA, Ajara, A Modernica Naturalist, and Ayuttva. They also provide several other services, such as webinars, content, ayurvedic courses, and consultation.
Presently, The Ayurveda Experience offers its products for sale in 20 countries, including India. More than 97% of its clients buy the products straight from the company’s website and app. The business says it is the biggest direct-to-consumer (D2C) provider of Ayurvedic products and content in Europe, North America, Canada, Australia, and India.
The Ayurveda Experience’s operating revenue increased 84% to Rs 259 crore for the fiscal year that ended in March 2023 from Rs 141 crore for the previous year, 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.
Following Anicut Capital and Kalpavriksh Trust with 17.81% each, Fireside Ventures was the largest external stakeholder in The Ayurveda Experience as of the Series B round. Chopra, the founder of the business, owned more than 30% of it.
