The Ayurveda Company Raises $12.2 Million In Series A Funding
The Ayurveda Company (T.A.C), a Gurugram-based Direct-to-consumer (D2C) ayurvedic brand, has raised $12.2 million (around Rs 100 crore) in a Series A funding round led by Sixth Sense Ventures.
Actor Kajal Agarwal, with a host of startup founders and venture debt funds, also participated in the funding round.
As per the startup, the raised funds will be used to expand its offline presence, boost product stack and expand research and development, and accelerate digital awareness around ayurveda.
The startup also plans to focus on digitising ayurveda through an app, expected to be launched around June-July this year.
The Ayurveda Company | Direct-to-consumer Ayurvedic Brand
Founded by Param Bhargava and Shreedha Singh in 2021, The Ayurveda Company manufactures products across beauty ranges such as skincare, haircare, and wellness, along with its presence in the natural makeup segment.
The Gurugram-based brand retails its products on online channels such as Amazon, Myntra, Nykaa, Flipkart, First Cry, and BlinkIt, among others, as well as offline via multiple platforms like general trade. It claims to have grown over 300% in the past 10 months.
As per Shreedha, this funding round is a significant milestone for T.A.C and will enable the company to further its mission of bringing Ayurvedic wellness to a wider audience, especially millennials and Gen-Z to make Ayurveda mainstream. In March 2022, The Ayurveda Company (TAC) raised $3 million in a funding round led by Wipro Consumer Care Ventures.
Commenting on the development, Nikhil Vora, Founder and CEO of Sixth Sense Ventures, said,
“Having moved offline early, establishing distribution across offline retail formats and geographies, T.A.C is garnering shelf space in areas dominated by incumbents to become an omnichannel BPC brand. Further, with rapid evolution of consumer preferences towards natural, and now ayurveda-driven, T.A.C is addressing this with affordable pricing and accessibility across all target groups.”
As per a report by Shiprocket, D2C brands in India are estimated to become a $60 billion industry by FY27. This month, Mumbai-based D2C apparel brand Off Duty raised Rs 4 crore from revenue-based financier Velocity.
Also, Indiejewel Fashions Pvt Ltd, which operates consumer silver-jewellery focused startup Giva, raised debt funding of Rs 40 crore (around $4.9 million) from venture debt fund Alteria Capital. Perfora, an oral care startup, raised $2.5 million (around Rs 20.7 crore) in a Series A funding round led by RPSG Capital Ventures.
Earlier in February, D2C platform Blingg raised pre-seed funding of $100,000 (around Rs 82.7 lakh) led by Decentralized VC. In January, fashion brand D’chica raised Rs 1.62 crore from revenue-based financier Velocity.
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