The Ayurveda Experience (TAE), a direct-to-consumer (D2C) brand specializing in Ayurvedic products, has successfully secured $27 million in Series C funding, led by Jungle Ventures, a prominent venture capital firm based in Singapore. Joining Jungle Ventures in this funding round are SIDBI Ventures, Anicut Capital, and Sharrp Ventures (Mariwala Family Office), further solidifying TAE’s position in the market.
With this fresh injection of capital, TAE aims to consolidate its brand presence in existing markets while elevating customer engagement on its platform. A significant portion of the funds will be allocated to bolstering product development initiatives and exploring innovative distribution strategies. Rishabh Chopra, the Founder and CEO of TAE, underscores the importance of fortifying the company’s research and development, supply chain, and manufacturing capabilities to effectively expand into new distribution channels.
“Our focus remains on optimizing the core aspects of our business for sustainable growth. We extend our gratitude to both new and existing partners for their unwavering support on our journey,” commented Chopra. Established in 2010, TAE has made considerable strides in the global market, catering to over 1.38 million customers across 20 countries spanning North America, Europe, Canada, and Australia. The company prides itself on offering a comprehensive array of Ayurvedic products, ranging from beauty essentials like hair oils and moisturizers to services such as consultations and educational webinars on Ayurveda.
Notably, TAE boasts that over 95% of its sales are driven through its proprietary app and website. Despite the economic challenges, TAE has showcased resilient financial performance, with revenues reaching Rs 259 crore in fiscal 2023. The company remains on course to meet its revenue target of Rs 350 crore in FY24, notwithstanding a reported net loss of Rs 17 crore in the preceding fiscal year.
“As India continues to carve out its presence on the global stage, there arises a unique opportunity for our entrepreneurs to forge global brands infused with authentic Indian essence. The remarkable achievements of the TAE team, scaling operations impressively with minimal resources, deserve admiration,” remarked Arpit Beri, a partner at Jungle Ventures.
