Beauty and wellness house of brands firm has raised Rs 50 crore (~$6 million) from , with participation from , , and others.
The company will deploy the funds to enter new international markets and expand the base in the domestic market. It will also focus on strengthening R&D, supply chain, and manufacturing and technological capabilities, according to Rishabh Chopra, Founder and CEO of The Ayurveda Experience.
The Gurugram-based company was founded in 2010 and has sold Ayurveda-based products in skincare, body care, food and beverages, supplements, and education to over eight lakh customers.
So far, it has raised Rs 105 crore of primary capital, in addition to approximately Rs 30 crore through secondary shares.
The firm aims to grow at a CAGR of 46% in the next five years and has earned more than Rs 235 crore in revenue in the last 12 months.
“[The funds] will also be used to enhance the group’s R&D, supply chain, and manufacturing strength. A significant amount of investment will also go towards technologies that will personalise the experience for customers on the platform,” said Rishabh Chopra, Founder and CEO, The Ayurveda Experience.
He also added that the company opened its first offline store in the US in October this year.
