Jungle Ventures leads $27 million Series C round in The Ayurveda Experience

The Ayurveda Experience (TAE), a renowned direct-to-consumer (D2C) brand specializing in skincare and nutrition, recently concluded a successful Series C funding round, securing a substantial investment of $27 million. Leading the investment was Jungle Ventures, a prominent venture capital firm headquartered in Singapore, known for its focus on supporting early-growth stage companies across India and Southeast Asia. Joining Jungle Ventures in this round were notable participants, including SIDBI Ventures, Anicut Capital, and Sharp Ventures (Mariwala Family Office), collectively contributing to a significant milestone in TAE’s journey by elevating its total raised capital to an impressive $41 million. In a press release, TAE disclosed its strategic plans for utilizing the newly acquired funds. The company aims to leverage this financial infusion to reinforce its brand presence, enhance customer engagement initiatives, allocate resources towards research and development (R&D) for product innovation, and expand its distribution channels into new markets. Established in 2010 by Rishabh Chopra, The Ayurveda Experience offers diverse Ayurveda-inspired skincare, wellness products, nutritional foods, beverages, and supplements. Under its umbrella, the company owns and operates four distinct lines of beauty and health solutions: iYURA, Ajara, A Modernica Naturalist, and Ayuttva. These products are meticulously crafted, marketed, and distributed through TAE’s proprietary platform.

Additionally, TAE extends its offerings beyond tangible products, providing a spectrum of services encompassing consultations, curated content, webinars, and educational courses centred around the principles of Ayurveda. Despite operating in a competitive landscape, TAE has effectively penetrated markets across 20 countries, including its home base in India. Remarkably, 97% of its customer base prefers purchasing products directly from the brand’s dedicated application and website. This consumer preference underscores TAE’s position as the leading D2C ayurveda-centric content and product provider in North America and Europe and key markets such as Canada, Australia, and India. Financially, TAE has demonstrated robust growth and fiscal discipline. According to insights from TheKredible, a startup data intelligence platform, the company recorded a remarkable 84% surge in revenue from operations for the fiscal year ending in March 2023. This growth trajectory propelled TAE’s revenue from Rs 141 crore in FY22 to an impressive Rs 259 crore in FY23.

Moreover, the company has made significant strides towards achieving profitability, with a notable reduction in losses by 30% from Rs 24 crore in FY22 to Rs 17 crore in FY23. This trajectory indicates a promising path towards potential profitability or break-even by FY24, bolstered by scalable growth and prudent financial management. Before the Series C funding, Fireside Ventures was TAE’s most significant external stakeholder, boasting a 17.81% ownership stake. Investors such as Kalpavriksh Trust and Anicut Capital were closely followed, while the company’s visionary founder, Rishabh Chopra, retained a substantial ownership stake exceeding 30%. For further insights into TAE’s investor landscape and other relevant details, interested parties can refer to TheKredible platform. In conclusion, The Ayurveda Experience’s successful Series C funding round marks a significant milestone in its growth trajectory, underscoring investor confidence in its business model, market positioning, and growth potential. With a strategic infusion of capital, TAE is poised to strengthen its brand footprint further, deepen customer engagement, foster product innovation, and expand its global reach, all while maintaining a steadfast commitment to the principles of Ayurveda.