Direct-to-consumer skincare and nutrition brand, The Ayurveda Experience (TAE), has successfully raised $27 million in a Series C funding round led by Jungle Ventures, a Singapore-based venture capital firm with a focus on early-growth stage companies in India and Southeast Asia.
Other participants in the funding round include SIDBI Ventures, Anicut Capital, and Sharrp Ventures (Mariwala Family Office), bringing the total amount raised by TAE to over $41 million.
TAE plans to utilize the newly secured funds to enhance its brand presence, intensify customer engagement, invest in research and development for new products, and expand distribution channels, according to a press release.
Established in 2010 by Rishabh Chopra, The Ayurveda Experience offers ayurveda-inspired skincare and wellness products, foods, beverages, and supplements. The company owns and operates four lines of beauty and health products: iYURA, Ajara, A Modernica Naturalist, and Ayuttva. In addition to product sales, TAE provides various services, including consultations, content, webinars, and courses on ayurveda.
Currently, The Ayurveda Experience sells its products in 20 countries, including India, with over 97% of customers making purchases directly through its app and website. The company claims to be the largest direct-to-consumer (D2C) Ayurveda content and products company in North America, Europe, Canada, Australia, and India.
In the fiscal year ending in March 2023, TAE reported an 84% growth in revenue from operations, reaching Rs 259 crore, compared to Rs 141 crore in FY22, as per TheKredible, a startup data intelligence platform. The company’s strategic growth and controlled expenditure could position it to break even or achieve profitability in FY24, considering a 30% reduction in losses to Rs 17 crore in FY23 from Rs 24 crore in FY22.
In the Series B round, Fireside Ventures held the largest external stake in The Ayurveda Experience with 17.81%, followed by Kalpavriksh Trust and Anicut Capital. The founder, Rishabh Chopra, retained over 30% stake in the company. For more detailed information, refer to TheKredible.
