Ayurvedic healthcare and wellness startup Kapiva Ayurveda has received capital commitments of Rs 17 crore from a clutch of investors, including early-stage investment firms Fireside Ventures and the family office of former Infosys senior executive TV Mohandas Pai.
The three-year-old startup, founded by Baidyanath Group scion Ameve Sharma, has already received Rs 11 crore from Fireside Ventures, the early-stage, consumer-focused investment firm helmed by Kanwaljit Singh, S Kannan Sitara former operations head at Dabur India and the family office of former Infosys senior executive TV Mohandas Pai.
Fireside Ventures will also pump in further capital in the second capital raising tranche, which is expected to close over the next two months. Kapiva’s existing set of backers, a list that includes, Maninder Gulati, chief strategy officer at OYO Hotels & Homesm, and Madhusudan Kela, chief strategist at Reliance Capital, among others, have also participated in the latest round of funding .
“The latest round of funding shows the investor confidence in our brand ethos and this will further cement our equity in the wellness segment,” Sharma, founder of Kapiva Ayurveda, said in a statement.
Founded in 2016 by Sharma, who is part of the family running the Baidyanath Group, one of the country’s largest makers of traditional Ayurvedic products, Kapiva is currently present in 12 cities across the country.
The company will use the proceeds from the latest round of equity financing to strengthen its presence in existing markets across major retail formats, while also adding to its product portfolio through the launch of teas and juices, among others.
“We have a huge headroom for growth since only less than 5% of the food and consumable products in India are natural or herbal. Moreover, most of them are bereft of nutritional value and we are making a difference through value-added nutrition, especially through careful sourcing of ingredients,” Sharma said.
Till date, Kapiva has raised about Rs 21 crore in financing.
Source : https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/kapiva-ayurveda-gets-rs-17-crore-in-capital-commitments/articleshow/67661170.cms
0 Comments