The Ayurveda Experience To Raise $30 Mn
- ByStartupStory | January 30, 2023
The Ayurveda Experience, a D2C brand run by Transformative Learning Solutions, is seeking to raise $25-30 million (₹203-244 crore) in equity funding through negotiations with a group of financial investors, according to two sources familiar with the matter. The company, which recently secured ₹50 crore in funding led by Anicut Capital, has engaged investment bank Rothschild & Co to help search for potential investors.
One of them stated “The process has been going on for some time. They are in early stage talks with mid-market PE funds and prominent VC investors too, mainly domestic, to raise funding,”. He also added that the company is doing well and likely to seek valuation of around $125 million- 130 million in this transaction.
Recently, businesses in the Ayurveda-focused health and wellness industry have received attention from both financial and strategic investors. The Ayurveda Experience, under Transformative Learning Solutions, boasts a customer base of approximately 840,000 across North America, Europe, Australia, and India. The firm faces competition from The Ayurveda Co., Upakarma Ayurveda, Vedix, Kama Ayurveda, Kapiva, and others.
The company claimed that it is aiming for a compound annual growth rate of 46% over the next five years and has already achieved revenue of more than ₹235 crore in the last 12 months. It posted consolidated net sales of ₹100 crore in FY21, up from ₹63.9 crore in the previous year, according to reports. In its Series A round, Gurugram-based D2C brand The Ayurveda Co. raised about ₹5 crore from actor Kajal Aggarwal as part of a broader plan to raise about ₹ 122.6 crore.
In November 2022, pharmaceuticals firm Mankind Pharma Ltd took a majority stake in Upakarma Ayurveda Pvt. Ltd through one of its subsidiaries for an undisclosed sum. The Ayurveda Experience is sharpening its focus on acquiring intellectual properties (IPs) to build its product arsenal, Chopra said last year. He said the strategy will be a mix of acquisitions as well as building in-house formulas using available research.
The Ayurveda Experience earns 54% of its revenue from North America, with India contributing only 4%.The Founder pointed out that the startup clocks 98% of revenue from its website. In October last year, The Ayurveda Experience had rolled out its first offline experience vertical in California. It claims to be ahead of luxury Ayurvedic skin care brand Forest Essentials in the global markets.
About Ayurveda Experience:
The Gurugram-based Ayurvedic health and wellness platform was founded in 2010 by Rishabh Chopra. The firm has product offerings in segments including skincare, body care, personal care, food & beverages, among others, through brands including iYURA, Ajara, Ayuttva.
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